He said the reforms will encourage "growth, investment and accelerate the progress" of every state and region in the country. In his letter, he also noted that there will only be two GST slabs of 5 per cent and 18 per cent now.
"Daily essentials such as food, medicines, soap, toothpaste, insurance and many more items will now either be tax-free or fall in the lowest 5% tax slab. Goods that were earlier taxed at 12% have almost entirely shifted to 5%," PM Modi said.
"It is greatly heartening to see various shopkeepers and traders putting up 'then and now' boards which indicate taxes pre-reforms and post-reforms," he added.
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'25 crore lifted out of poverty'
Since his government came to power, the Prime Minister said, 25 crore people were lifted out of poverty, who have now formed an "aspirational neo-middle class". The income tax cut and the next-generation GST reforms will help people save Rs 2.5 lakh crore, he said, adding that it will now be easier for the countrymen to fulfil their aspirations.
Lauding his government for GST, PM Modi said the goods and services tax has united the country 'economically', bringing 'uniformity' and 'relief'. He said the reforms have simplified the system and reduced rates, helping people save more.
"Our small industries, shopkeepers, traders, entrepreneurs and MSMEs will also see greater Ease of Doing Business and Ease of Compliance. Lower taxes, lower prices and simpler rules will mean better sales, less compliance burden and growth of opportunities, especially in the MSME sector," he said.
'Collective goal is Viksit Bharat'
In his letter, PM Modi said the collective goal of the country is to achieve the dream of 'Viksit Bharat' by 2047. For this, the country needs to focus on self-reliance, and GST 2.0 will help the country become 'atmanirbhar', he added.
"On a related note, this festive season, let us also resolve to support products that are Made in India. This means buying Swadeshi products that have the sweat and toil of an Indian involved in their making, irrespective of the brand or the company that makes them," he said.
Focus on 'Swadeshi'
He also urged the countrymen to buy local products to help India's artisans, workers and industries. He said this will help many families earn their living, creating job opportunities for the youth.
"I appeal to our shopkeepers and traders to sell products that are Made in India. Let us proudly say - what we buy is Swadeshi," he said. "Let us proudly say - what we sell is Swadeshi."
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