New Delhi, August 15 (HS): In a landmark Independence Day address from the ramparts of the Red Fort, Prime Minister Narendra Modi announced that the government will roll out Next-Generation GST Reforms this Diwali, aimed at lightening the tax burden on citizens and spurring economic growth.

The Prime Minister declared that a high-level committee has completed its review, paving the way for sweeping changes in indirect taxation. “These reforms will significantly ease the tax load on common households, make essential goods cheaper, and boost the MSME sector,” Modi said, outlining a vision of a simpler and more citizen-friendly tax regime.

Alongside the GST overhaul, the Prime Minister also launched the ‘Pradhanmantri Viksit Bharat Rozgar Yojana’, effective immediately. Under this initiative, fresh recruits entering the private sector workforce for the first time will receive a one-time direct benefit of ₹15,000 from the government — an incentive designed to encourage youth employment.

Highlighting the government’s broader tax simplification drive, Modi reminded the nation of the recent complete income tax exemption for individuals earning up to ₹12 lakh annually — a reform that, he said, has brought “tangible relief to the middle class and salaried professionals.”

Economists anticipate that the twin moves — structural GST reform and boosted income incentives — could inject fresh momentum into domestic consumption and help small businesses thrive ahead of the festive season.

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Hindusthan Samachar / Jun Sarkar