India, Sept. 21 -- Prices of daily items will be reduced further after Goods and Services Tax (GST) reforms rollout, Prime Minister Narendra Modi said on Sunday in his address to the nation. The reforms will come into effect from Monday, September 22, a move that he termed as "GST bachat utsav".

"Tax slabs of 5% and 18% only will be applied," Modi said as he declared announced the roll out of "next generation GST reforms" from tomorrow.

Prices of articles such food items, medicines, soap, toothbrush, toothpaste, health and life insurance will be slashed, Modi said.

The reforms will come into effect from Monday, September 22, prices of almost hundreds of items ranging from kitchen staples to electronics, automobiles are expected to be r...