Prime Minister Narendra Modi delivered the keynote address at the inaugural Republic Summit, 2018, speaking on the theme of ‘Surging India’ on Tuesday. While speaking at the Republic Summit, PM Narendra Modi indicated that efforts are being made to ensure that 99% of all items, including items used by the common man, would be kept at a GST slab of 18% or less.
“The entire country took the initiative to bring change with the tax reforms. They made their contributions to the development. It is the hard work of the people that India was able to bring such a huge reform. Even in many developed countries, it is quite difficult to bring small tax reforms. As I said earlier, before the introduction of GST, while registered enterprises were numbered 66 lakhs, now the price has increased to 1 crore 20 lakhs. While the GST was still new, slowly and steadily discussions took place with economists, tax reformers, business holders, and now the GST system has settled down to a large extent in the country,” PM Modi said during his speech.