New Delhi, Sept. 5 -- The changes in the Goods and Services Tax regime is a double dose of support and growth for the nation and the next-generation reforms have been done to support India's progress in the 21st century, Prime Minister Narendra Modi said on Thursday, a day after the GST Council approved the most sweeping overhaul of the country's consumption tax since its 2017 launch. Modi's comments came even as experts said the rate cuts will boost domestic demand , offset the impact of US tariffs in businesses such as textiles and leather , and may increase real gross domestic product (GDP) from existing estimates of 6.5% to 6.7% in 2025-26. "Without timely reforms, our country cannot claim its rightful place in today's global landscape. As I had said from the ramparts of Red Fort on August 15, it is essential to implement next-generation reforms to make India truly self-reliant. I had also assured the nation that there would be a double blast of happiness for citizens ahead of this Diwali and Chhath Puja..This time, the festivity of Dhanteras will also be even more vibrant as the tax on dozens of items has now been reduced significantly," Modi said while interacting with the National Awardee Teachers. Stating that GST has become even simpler, the PM said, "On 22 September, which is the first day of Navratri, the next generation reform will be implemented as all these things are related to the 'Matrishakti ' (maternal strength)". Modi said that the poor, neo middle class, middle class women, students, farmers and young people will particularly benefit from the decision. He further said that these would lead to "ease of doing business", and boost employment and investments. The PM said that reforms in GST have added Panchratna (five aspects) to India's economy, "First, the tax system has become much simpler. Second, the quality of life of the citizens of India will improve further. Third, both consumption and growth will get a new boost. Fourth, ease of doing business will boost investment and employment. Fifth, cooperative federalism will become stronger for a developed India." Modi also targeted the Congress, saying, "No one can forget how the Congress government has increased your monthly budget. They used to levy a 21% tax even on toffees for children. If Modi had done this, they would have pulled my hair out." He added that under previous governments, many essentials such as kitchen items, agricultural goods, medicines, and even life insurance, were heavily taxed. "Had it been the same era, you would have to pay Rs.20-25 as tax on things priced at Rs.100. But the aim of our government is to maximise the savings in the lives of common people and make people's lives better," he said. Union finance minister Nirmala Sitharaman announced the changes - which affected everything from toothpaste and insurance to tractors and cement - after a marathon meeting of the 56th GST Council. More than 90% of goods across multiple categories will become cheaper as the government whittles down the GST structure from four slabs to essentially two main rates of 5% and 18%, with a special 40% levy reserved for luxury and sin goods. The changes will have a net revenue implication of Rs.48,000 crore based on 2023-24 consumption patterns but represent a gamble on growth by boosting domestic demand at a time when exports face headwinds from punishing US tariffs. In a relief to e-commerce exporters, the commerce ministry on Thursday said the GST Council approved the ministry's proposal to eliminate the value threshold for refunds on low-value consignments. Laws will be amended to allow refunds for exports made with payment of tax, regardless of value, it added....