Prime Minister Narendra Modi will speak to the country today at 5 PM. Even though his speech’s topic hasn’t been formally announced, the timing has led many people to believe that he will talk about the GST 2.0 revisions that will be put into effect tomorrow.
The speech is on the day before the Navratri festival and the day before the new, easier Goods and Services Tax (GST) system goes into effect. The government is changing to a two-slab tax structure of 5% and 18% under GST 2.0. This change is meant to lower the tax burden on a lot of important goods.
Reports say that big corporations have already started sending out products with new price tags so that customers can benefit from the lower tax rates before the holiday season. PM Modi introduced the new method on Independence Day. It is anticipated to make it easier for both enterprises and consumers to pay their taxes.
Some reports say that the Prime Minister may also talk on current events in the world, such as the US’s new H-1B visa fee hike, in addition to the changes to the GST. People and businesses are eagerly waiting for his speech, which they hope will make these important economic measures clearer.