Mumbai, Aug. 18 -- Prime Minister Narendra Modi talked about a large tax overhaul in his Independence Day speech on 15th August 2025. PM noted that we are coming with the next generation of GST reforms, this will be a gift for you this Diwali, taxes needed by the common man will be reduced substantially, a lot of facilities will be increased. Our MSMEs, our small entrepreneurs, will get a huge benefit. Everyday items will become very cheap and that will also give a new boost to the economy.

In other key initiatives, PM announced a Rs 1-lakh-crore youth employment scheme launched: The Pradhan Mantri Viksit Bharat Rojgar Yojana will provide a one-time incentive of Rs 15,000 to first-time private-sector job seekers, targeting approximately ...