Piyush Goyal Hails GST Overhaul as “Biggest Economic Reform Since Independence”

New Delhi, Sept 2025 – Union Minister of Commerce and Industry Piyush Goyal on Friday described the latest Goods and Services Tax (GST) reforms as “the biggest economic reform since Independence,” crediting Prime Minister Narendra Modi for delivering on a long-standing vision to simplify India’s complex tax system.

Addressing a press conference at the BJP headquarters in New Delhi, Goyal said the revised GST rates — scheduled to take effect from September 22, the first day of Navratri — mark a transformative milestone for the economy.

“India’s economy is reaching new heights with these changes. Perhaps for the first time since 1947, such comprehensive reforms have been carried out in the tax structure. This is a huge relief for consumers and a gift to our youth, women, farmers, shopkeepers, MSMEs, and large businesses alike,” Goyal declared.

Fulfillment of Vajpayee’s Vision

The Minister noted that the reform embodies Prime Minister Modi’s “vision and courage” to execute what former Prime Minister Atal Bihari Vajpayee had once envisaged — merging 30 to 35 taxes and levies into one streamlined system.

“Since 2017, the Prime Minister has consistently reduced rates whenever possible. Every state, including opposition-ruled ones, has participated in finalizing slabs and implementing this reform,” he said.

Relief Across Sectors

Highlighting the practical impact, Goyal said the prices of a wide range of goods and services — including two-wheelers, clothing, footwear, spectacles, food products, farm produce, health insurance, medical devices, medicines, televisions, refrigerators, and air-conditioners — are set to decline.

He added that lower tax rates would encourage investment, spur consumption, and generate employment, helping the economy achieve stronger and more sustainable growth.

Criticism of Previous Governments

Taking aim at the Congress-led UPA, Goyal said India’s financial condition in 2014 was “very bad” after ten years of “corruption and lack of reform.” He argued that while previous governments made promises, only the GST system introduced in 2017 has meaningfully reduced the burden of multiple taxes and cumbersome paperwork.

A “Navratri Gift”

Calling the reform a “Navratri gift” to the nation, Goyal stressed that the changes not only enhance the ease of doing business but also deepen trust between the Centre and the states.

“This is the promise and vision of Prime Minister Modi, who took this bold step to ensure that every section of society benefits,” he said.