Prime Minister Narendra Modi, during his Independence Day speech, announced that this Diwali, consumers can expect significant GST reforms aimed at lowering taxes on essential items. He stated these changes would make everyday goods much cheaper and benefit the overall economy. Despite these plans, inflation remains a concern in certain categories—such as butter, which saw inflation hit a 16-month high of 5.7% in July, up from 4.8% in June, and noodles with a 12% GST rate, which recorded 4.6% inflation in July.
