New Delhi, Aug. 15 -- Prime Minister Narendra Modi, during his 79th Independence Day address on Friday from the ramparts of the iconic Red Fort, promised a 'double Diwali' this year. He announced major reforms in the Goods and Services Tax (GST) and a reduction in tax rates by October.

Vowing to reform and lower tax rates by Diwali, PM Modi said, "This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in GST... We are bringing next-generation GST reforms. This will reduce the tax burden across the country, " DD News quoted the PM as saying during his Independence Day speech.

With the major Hindu festival of lights - Diwali just a few months away - this announcement comes ...