U.S. President Donald Trump threatened on Monday (August 31, 2026) to hit Iran “hard” after the two foes traded fire for the first time in weeks, as his Treasury secretary vowed to keep up a pressure campaign aimed at hobbling Tehran’s economy. After six months of war
Step inside Mouni Roy’s beautiful 4 BHK apartment in Mumbai featuring minimal décor and a cosy library Published on: Sep 1, 2026, 11:30:03 IST By Anukriti Srivastava Prefer HTon Google Share via Copy link Mouni Roy gave a house tour of her Mumbai 4 BHK apartment
European traveller says he was scared to visit India due to 'bad image, stereotypes': 'I found more kindness than chaos' Published on: Sep 1, 2026, 10:51:25 IST By Sanya Panwar Prefer HTon Google Share via Copy link Expecting chaos, he found kindness: Robert says India changed how he judges places
Meta is fixing a loophole that allowed wearers of its AI smart glasses to secretly record others without consent. Meta’s new AI smart glasses feature a white light sensor that starts blinking when the wearer is taking a photo or video through their device
‘Bengaluru Metro discipline deserves appreciation’: Woman praises commuters for orderly queues, offering seatsA woman lauded Bengaluru Metro commuters for disciplined boarding, respectful behaviour and offering seats to women. Published on: Sep 1, 2026
Income tax exemption, combined with GST reforms, will result in savings of Rs 2.5 lakh crore: PM Modi
Narendra Modi says that the poor and neo middle-class are benefiting from income tax relaxation and upcoming GST reforms. The income tax exemption up to Rs 12 lakh was announced in the Union budget. The new GST rates are set to roll out from September 22. Modi highlights that this combined effect will save citizens over Rs 2.
Prime Minister Narendra Modi on Sunday said that the poor and the 'neo middle-class' have received a double bonanza within a year following the relaxation of income tax up to Rs 12 lakh, which was announced during the Union budget in February, and the new Goods and Services Tax reforms that are set to roll out from September 22.
"This year, the government presented a gift by making income up to Rs 12 lakh tax-free and naturally, when income tax relief up to Rs 12 lakh is granted, the lives of the middle class undergo a profound transformation, bringing about so much simplicity and convenience...Now, the poor, the neo-middle class, and the middle class are receiving a double bonanza. With the reduction in GST, it will be easier for the citizens of the country to fulfil their dreams," the prime minister said.
Addressing the nation on the eve of the new GST rates, Modi said that the income tax exemption, combined with the new indirect slabs will result in people saving more than Rs 2.5 lakh crore yearly.
"We are moving forward by following the mantra of 'Nagrik Devo Bhava' and we can see its reflection in the next generation's GST reforms. If we combine the income tax exemption and the GST exemption, the decisions made in one year will save the people of the country more than Rs 2.5 lakh crore and that's why I say, this is a savings festival," Modi said.
Modi added that 25 crore people had come out of poverty in the last 11 years, who are now the 'neo middle-class' with aspirations and dreams of their own.
"In the last eleven years, 25 crore people in the country have defeated poverty. Having emerged from poverty, a large group of 25 crore people, known as the neo-middle class, is playing a significant role in the country today. This neo-middle class has its own aspirations and dreams.
PM Modi slams previous tax regime
When India embarked on GST reform in 2017, it marked the beginning of changing an old history and creating a new one, he said. "For decades, our country's people and our country's traders were entangled in a web of various taxes. Octroi, entry tax, sales tax, excise, VAT, service tax—dozens of such taxes existed in our country. To send goods from one city to another, we had to cross countless checkpoints..."Modi said that daily essentials, medicines, and insurance will become cheaper under the new GST tax reform.
The government had earlier announced GST rate cuts on September 4, covering a wide range of products -- from automobiles to daily consumer items.
This marks the biggest indirect tax reform since the Goods and Services Tax was rolled out in July 2017.
The new system, often called GST 2.0, introduces a two-slab structure of 5 per cent and 18 per cent, with an additional 40 per cent rate only for super luxury, sin and demerit goods.
Add as a Reliable and Trusted News Source Add Now!
Source: EconomicTimes
Related Posts: Carney says talks with India’s Narendra Modi were PM Narendra Modi Congratulates Indian Men's Hockey Team On Asia Cup Triumph Physical attack on Narendra Modi PM Narendra Modi receives grand ceremonial welcome in Jakarta Meet PM Narendra Modi’s Right Hand Man Who Decides How India Is Governed PM Narendra Modi biopic ‘Maa Vande’ goes on floors Mohanlal Thanks PM Narendra Modi After Winning Dadasaheb Phalke Award Narendra Modi all praise for Bobbili Veena artisans PM Narendra Modi to visit Udupi mutt & Goa's Jeevottam mutt on Friday Congress slams Narendra Modi govt as
Manchester City have opened talks with Chelsea in their bid to sign midfielder Enzo Fernandez. In what is set to be one of the key narratives on transfer deadline day, City have set the wheels in motion towards what would be one of the most expensive deals of the summer
27 minutes ago
After 15 years of leading one of the world’s most recognisable technology companies, Tim Cook has officially signed off as Apple CEO. On his final day in the role, August 31, Cook took to X to share a brief but emotional message with the Apple community
27 minutes ago
Badshah and Isha Rikhi divorce: Months after photos from their secret wedding went viral, rapper Badshah and Punjabi actress Isha Rikhi have announced their divorce. The couple shared identical statements on Instagram on August 31, saying they have mutually decided to go their separate ways
27 minutes ago
PM Modi hails ‘herculean feat’, Congress asks ‘where are jobs?’: GDP figures draw mixed responseTaking a jab at his critics, Modi said some people in India, “drowned in an atmosphere of despair”, were spreading “lies” across the country. Published on: Sep 1, 2026
26 minutes ago
Congress leader P Chidambaram has flagged India’s 106th position among 179 countries in V-Dem’s Electoral Democracy Index. India scored 0.38 for 2025, its lowest since 1975, according to V-Dem, which classifies the country as an “electoral autocracy”
27 minutes ago
The company said the move is aimed at strengthening transparency and food quality for consumers, and warned that restaurants failing to comply with its requirements could be removed from the platform. New Delhi: Food delivery platform Zomato on Monday said it has adopted a zero-tolerance policy on
27 minutes ago
On August 21, a three-judge Supreme Court Bench led by the Chief Justice of India dismissed a petition and sought a fresh one in a case on minimum wages in rural employment guarantee programmes. The Bench lauded MGNREGA’s role in rural development
28 minutes ago
As Janmashtami approaches, homes begin to take on a festive glow. Laddu Gopal gets a new outfit, the little cradle is beautifully decorated, flowers are brought in and preparations begin for the midnight celebration. Amid all these preparations
26 minutes ago
The company said Shipsy Brain draws on data linked to more than five billion shipments. This includes more than 50 billion operational events, 1.5 billion automated and human decisions, 100 billion GPS pings and over 5,000 logistics workflows. Enterprise firm on September 1 launched in beta
26 minutes ago
In March 2026, IIT Kharagpur—the oldest Indian Institute of Technology (IIT) that has been training thousands of minds to design bridges, cars, and computer chips for the last 75 years did something unprecedented. It formally applied to the National Medical Commission (NMC) to offer a
28 minutes ago
The price of the 19-kg commercial LPG cylinder has been increased by Rs 9.50, raising costs for restaurants, hotels and other businesses that rely on commercial cooking gas. The revised prices came into effect from September 1, with new rates applicable across major cities
28 minutes ago
A Singaporean diplomat who led the adoption of the UN Ocean Treaty, a Myanmar activist who put his freedom on the line for democracy, and a former Bangladeshi teacher who brought compassion to the poor were named on Monday as the winners of this year’s Ramon Magsaysay Awards
26 minutes ago
Vaibhav Sooryavanshi’s care-free, adolescent excellence graced big-ticket First Class cricket, as the 15-year-old made an entertaining 81-ball 92 on day two of East Zone’s Duleep Trophy semifinal versus Central Zone at the BCCI Centre of Excellence here on Monday
29 minutes ago
A woman in Bengaluru has alleged that Rapido drivers have been frequently demanding fares higher than the amount displayed on the app. She shared one such instance in a post on X and questioned whether drivers are unable to see the fare shown to customers before accepting a ride
27 minutes ago
The Union government on Monday moved the Supreme Court seeking to quash all first information reports filed in connection with the youth protests in Delhi in July, Bar and Bench reported. The application urged the court to quash the 13 FIRs registered for offences including rioting
28 minutes ago
That paneer tikka you ordered, was it actually made from milk? Zomato’s latest move has put a lesser-known product called analogue paneer under the spotlight. The food delivery platform has asked restaurants to stop using analogue dairy products, but before you label it “fake paneer"
26 minutes ago
The US Supreme Court has ruled that construction of a $400m (£297m) ballroom at the White House can go ahead, in a victory for President Donald Trump. In a 5-4 ruling, the justices granted the Trump administration's emergency request, blocking lower court rulings that would have halted
28 minutes ago
Lionel Messi and Argentina: A story of heartbreak, redemption and finally, everythingWe all knew this day would come sooner or later, but watching Argentina without Lionel Messi in that jersey is something that will take time to sink in. Updated on: Sep 1, 2026
28 minutes ago
The elderly grimace, hobbling on crutches, and wide-eyed children stare, cradling chickens carried from homes they were forced to leave behind. "It feels good to be in my own country," 35-year-old Nazia says, just minutes after she crosses from Pakistan, where she was born, into Afghanistan
27 minutes ago
‘Spite might be greatest incentive’: Bengaluru CEO on employees working weekendsA Bengaluru-based CEO has revealed that his employees are voluntarily working late nights and weekends — not for better incentives, but to spite a rival company Updated on: Sep 1, 2026
3 hours ago
VerSe Innovation has launched SparkStation, an AI-powered content operating system. This new platform promises to significantly reduce production costs and delivery times for brands. SparkStation integrates ideation, scripting, and editing into a single, streamlined workflow
3 hours ago
Tim Cook was happy at Compaq. One meeting with Steve Jobs changed his mindIn a 2014 interview with journalist Charlie Rose, Tim Cook had recalled how he ended up at Apple. Updated on: Sep 1, 2026, 07:54:20 IST By Sanya Jain Prefer HTon Google Share via Copy link On Monday
3 hours ago
From Greater Noida to Delhi: 47-km bus ride ends in gang-rape of 16-year-oldThe Class 11 student, who lives in Mainpuri, left home on August 3 without informing her parents, the Delhi Police said. Updated on: Sep 1, 2026, 07:53:15 IST By Hemani Bhandari Prefer HTon Google Share via Copy link The
3 hours ago
In August last year, Rafikul Biswas was picked up from his home in Bengaluru, and accused of being an undocumented migrant from Bangladesh. Biswas, who is originally from Nadia district in Bengal, spent four months in a detention centre in the city
3 hours ago
IMDbPro is providing free premium memberships to Indian entertainment professionals. This initiative removes financial barriers for actors, directors, and crew members. Eligible professionals can access career tools and networking opportunities
3 hours ago
Victoria Beckham's fashion and beauty business has made an operating profit for the first time since she founded it in 2008, the company has said. Victoria Beckham Holdings Ltd, which is led by the former Spice Girl as creative director, made an operating profit of £7.3m in 2025, accounts show
3 hours ago
Below normal rain likely in September after warmest August since 1901: IMDThe overall monsoon deficit stood at 14% on August 31, with this expected to increase through September. Updated on: Sep 1, 2026, 07:53:27 IST By Jasjeev Gandhiok, Pallavi Singhal Prefer HTon Google Share via Copy link The
3 hours ago
