{"id":1299354,"date":"2025-08-26T08:50:02","date_gmt":"2025-08-26T03:20:02","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1299354"},"modified":"2025-08-26T08:50:37","modified_gmt":"2025-08-26T03:20:37","slug":"after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/","title":{"rendered":"After 60 Years, India&#8217;s Tax Laws Changed; GST Reforms Before Diwali"},"content":{"rendered":"\n<p>Prime Minister Narendra Modi, speaking at the <strong>ET World Leaders Forum 2025<\/strong>, highlighted India\u2019s role as one of the fastest-growing economies in the world. He emphasized that India has the potential to drive global growth amidst slowing international markets, stressing the government\u2019s commitment to the mantra of <strong>\u201cReform, Perform, Transform.\u201d<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg\" alt=\"After 60 Years, India's Tax Laws Changed; GST Reforms Before Diwali\" class=\"wp-image-1299366\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1-768x432.jpeg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Prime Minister Narendra Modi of India waves to the crowd as he arrives to give a speech during a reception by the Indian community in honor of his visit to the United States at Madison Square Garden, Sunday, Sept. 28, 2014, in New York. (AP Photo\/Jason DeCrow)<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Key Economic Reforms<\/h3>\n\n\n\n<p>PM Modi announced several crucial reforms designed to simplify governance and strengthen economic fundamentals. A <strong><a href=\"https:\/\/www.cnbctv18.com\/india\/pm-modi-announces-gst-reforms-by-diwali-says-new-income-tax-law-after-60-years-19658352.htm\">new Income Tax Bill<\/a><\/strong>, introduced after 60 years, has been drafted in simple language to benefit the common man. He also confirmed that <strong>GST simplification measures will be completed by Diwali<\/strong>, aimed at reducing prices, boosting demand, and making business operations easier.<\/p>\n\n\n\n<p>Additionally, the passage of <strong>Jan Vishwas Bill 2.0<\/strong> during the Monsoon Session underlined the government\u2019s focus on <strong>trust-based governance<\/strong> and pro-people reforms, despite disruptions in Parliament.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Strong Fundamentals and Global Contribution<\/h3>\n\n\n\n<p>PM Modi said India\u2019s economic fundamentals remain robust, with <strong>low inflation, controlled current account deficit (CAD), strong forex reserves, and resilient banks.<\/strong> He cited experts\u2019 estimates that India will contribute <strong>20% to global growth<\/strong>.<\/p>\n\n\n\n<p>He further noted positive job growth, with over <strong>24 lakh formal jobs added in June<\/strong> through the EPFO, and record SIP investments by domestic investors. Retail inflation is reportedly at its lowest since 2017, and forex reserves are at an all-time high.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Focus on Technology and Future Growth<\/h3>\n\n\n\n<p>PM Modi reiterated his <strong>Independence Day promise<\/strong> that India\u2019s first Made-in-India semiconductor chip would be launched by year-end, positioning the country as a global technology hub. He also emphasized building India into a <strong>sports economy<\/strong> and advancing the vision of <strong>Viksit Bharat 2047<\/strong> through self-reliance.<\/p>\n\n\n\n<p>Highlighting research and innovation, the Prime Minister urged the private sector to invest in <strong>quantum technology, biotechnology, clean energy, and battery storage.<\/strong> He stressed that these areas will define the future of India\u2019s sustainable growth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">A Message of Confidence<\/h3>\n\n\n\n<p>PM Modi\u2019s address was both aspirational and pragmatic, reassuring global leaders of India\u2019s readiness to fuel worldwide growth. By focusing on reforms, stability, and innovation, he positioned India as a <strong>beacon of resilience and opportunity<\/strong> at a time when the global economy faces uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prime Minister Narendra Modi, speaking at the ET World Leaders Forum 2025, highlighted India\u2019s role as one of the fastest-growing economies in the world. He emphasized that India has the potential to drive global growth amidst slowing international markets, stressing the government\u2019s commitment to the mantra of \u201cReform, Perform, Transform.\u201d Key Economic Reforms PM Modi [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1299366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8546,192,7130],"class_list":["post-1299354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-gst-reforms","tag-income-tax","tag-modi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>After 60 Years, India&#039;s Tax Laws Changed; GST Reforms Before Diwali - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"After 60 Years, India&#039;s Tax Laws Changed; GST Reforms Before Diwali - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Prime Minister Narendra Modi, speaking at the ET World Leaders Forum 2025, highlighted India\u2019s role as one of the fastest-growing economies in the world. He emphasized that India has the potential to drive global growth amidst slowing international markets, stressing the government\u2019s commitment to the mantra of \u201cReform, Perform, Transform.\u201d Key Economic Reforms PM Modi [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2025-08-26T03:20:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-08-26T03:20:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/\",\"url\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/\",\"name\":\"After 60 Years, India's Tax Laws Changed; GST Reforms Before Diwali - Trak.in - Indian Business of Tech, Mobile &amp; Startups\",\"isPartOf\":{\"@id\":\"https:\/\/trak.in\/stories\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg\",\"datePublished\":\"2025-08-26T03:20:02+00:00\",\"dateModified\":\"2025-08-26T03:20:37+00:00\",\"author\":{\"@id\":\"https:\/\/trak.in\/stories\/#\/schema\/person\/5092a7d2906e3f3c819643435477c2a7\"},\"breadcrumb\":{\"@id\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trak.in\/stories\/after-60-years-indias-tax-laws-changed-gst-reforms-before-diwali\/#primaryimage\",\"url\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg\",\"contentUrl\":\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/08\/149bc253277f496c888f15e9680a8606-0-1280x720-1-1024x576-1024x576-1.jpeg\",\"width\":1024,\"height\":576,\"caption\":\"Prime Minister Narendra Modi of India waves to the crowd as he arrives to give a speech during a reception by the Indian community in honor of his visit to the United States at Madison Square Garden, Sunday, Sept. 28, 2014, in New York. 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