New Delhi, Aug. 18 -- The announcement of next-generation goods and services tax (GST) reforms by India's Prime Minister Narendra Modi on the occasion of our 79th Independence Day is a landmark moment for the nation.

Eight years after the historic implementation of GST, which subsumed a complex web of indirect taxes into a unified system, this reform is ready for its second phase. The new agenda, centred on a structural revision aimed at rate rationalization and ease of living, promises to further consolidate India's economic transformation and deepen the foundations of Atmanirbhar Bharat. It is in this spirit that the Prime Minister has heralded GST 2.0.

GST 2.0 would not only address longstanding challenges, but also position India's ...