PM Modi Launches GST 2.0 With Two-Tier Structure

Prime Minister Narendra Modi today announced the rollout of GST 2.0, simplifying the tax regime into two main slabs of 5% and 18%, with a special 40% for luxury and sin goods. Modi called it the 'GST Bachat Utsav', promising relief for the poor, middle class, and youth by reducing prices of essential items. Economists expect improved compliance, better revenue buoyancy, and a stronger consumption-led boost ahead of the festive season. The reforms mark one of the most significant overhauls of India’s indirect tax system.