Prime Minister Narendra Modi will address the nation at 5 PM today, a rare Sunday evening speech that has stirred widespread speculation. While officials say the address will likely focus on the rollout of GST 2.0, some observers believe the Prime Minister could go beyond tax reforms and speak on larger economic challenges — particularly in light of fresh global developments.
The address comes just a day after the United States imposed a hefty $100,000 fee on H-1B visas, a move that could hit thousands of Indian IT professionals and outsourcing firms. The sudden hike has sparked anxiety across India’s technology sector and raised concerns about bilateral trade frictions. Modi’s speech, therefore, is expected to be closely watched for any reference to India’s response.
At the same time, the government is preparing for the launch of GST 2.0 on September 22, billed as the biggest tax reform since the GST’s introduction in 2017. The revamped system collapses the current four tax slabs into just two primary rates — 5% and 18% — with a higher 40% bracket for luxury and sin goods.
The reform is designed to cut the tax burden on everyday items and simplify compliance. Nearly 99% of goods from the 12% slab will shift to 5%, while about 90% of items in the 28% category will move to 18%. Essential products, healthcare supplies, and some insurance services are also set for relief. Finance Minister Nirmala Sitharaman has described the changes as a “festival gift,” estimating that the overhaul will pump nearly Rs 2 lakh crore back into the economy by lowering prices and boosting demand.
Still, today’s address has taken on added significance. With global uncertainties and the US visa fee shock fresh in mind, political watchers expect Modi may frame the GST overhaul as part of a broader economic resilience plan. The speech is also being seen as an opportunity to reassure both businesses and citizens about India’s path forward.
As the nation awaits his words, the question lingers: will it be a straightforward explanation of GST 2.0, or will Modi use the stage to deliver a wider statement on India’s economic strategy amid global headwinds?