Prime Minister Mr. Narendra Modi declared the launch of Goods and Services Tax (GST) 2.0, calling it the beginning of a national ‘bachat utsav’ (savings festival) aimed at reducing prices, streamlining compliance, and promoting investment inflows. In a televised speech, he stated that the reforms will aid all segments of society, boost household savings, and ensure every state is a equal contributor to India’s growth narrative. He emphasized that GST 2.0 will simplify business operations and enhance industrial competitiveness, upholding the government’s vision of ‘one nation, one tax.’ With the implementation of GST 2.0 on September 22, 2025, the 12% and 28% categories have been eliminated, establishing a system with two tiers of 5% and 18%. Nearly 99% of products that were taxed at 12% will now face a rate of 5%, and at least 90% of items previously at 28% will shift to the 18% rate. Luxury and indulgent items will incur a 40% compensation cess. Prime Minister Mr. Narendra Modi acknowledged the Centre and states for facilitating this simplification, which enhances previous income tax reforms and offers relief to the poor, middle class, and newly emerging middle class. He connected the GST reforms to the government’s ‘Atmanirbharta’ (self-reliance) initiative, encouraging citizens and businesses to focus on Indian-manufactured goods