Noida: Prime Minister Narendra Modi on Thursday asserted that as India’s economy continues to grow stronger, the tax burden on citizens will progressively lighten, with further reforms to the Goods and Services Tax (GST) framework underway.
Speaking at the inauguration of the UP International Trade Show in Greater Noida, Mr. Modi noted that structural revisions to GST are critical to sustaining economic momentum. “As the economy grows stronger, the tax burden will reduce further. With the support of the people, GST reforms will continue,” he said.
He also referred to recent fiscal changes such as exempting individuals earning up to ₹12 lakh from income tax, and the roll-out of “GST 2.0”, which he claimed will increase disposable incomes and spur consumer demand.
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Modi described the 2017 rollout of GST as a landmark transformation of India’s indirect tax regime, adding that tax reform cannot be a one-time event but must evolve continuously.
On the industrial front, he announced that the production of AK-203 rifles will soon begin in Uttar Pradesh under a collaboration with Russia. He reiterated the government’s emphasis on self-reliance (“Make in India”) and called for higher investment in innovation and research. “Every product that can be made in India should be made in India,” he declared, while inviting global investors to partner despite international uncertainties.