PM Modi Highlights Major Tax Reforms to Boost Household Savings
Prime Minister Narendra Modi announced that recent tax reforms under the new GST structure will significantly increase citizens’ savings. Essential items like food, medicines, soap, toothpaste, and insurance are now either tax-free or fall under the minimal 5% slab. This move is expected to reduce daily expenses for common people.
He also mentioned that individuals earning up to ₹12 lakh annually will have zero income tax liability, thanks to recent tax cuts. According to Modi, these combined reforms will help save ₹2.5 lakh crore for the public.
The Prime Minister urged citizens to support Indian-made products during the festive season. He emphasized that buying local strengthens the economy and contributes to the vision of Viksit Bharat 2047 — a developed and self-reliant India.
PM Modi Highlights Major Tax Reforms to Boost Household Savings
