Today marks the rollout of India’s next-generation GST reforms, dubbed GST 2.0, which simplifies the tax structure—cutting rates and spreading relief across goods and services nationwide. 

Prime Minister Narendra Modi has called the changes a “GST Bachat Utsav” (savings festival), saying it will “bring happiness to every family” by lowering costs for essentials and boosting disposable income for ordinary people. 

The new structure moves nearly 375 items into lower tax slabs: everyday essentials like dairy, bread, health & life insurance, soaps, and many FMCG goods will now attract 5% GST or even be exempt, instead of higher rates. Big-ticket items—cars, electronics, appliances—also get tax relief under the new slabs. 

Experts believe these cuts will result in savings exceeding ₹2.5 lakh crore for Indian households, especially benefiting the poor, neo-middle class, women, youth, MSMEs and shopkeepers. 

While everyone welcomes the relief, observers will be watching to ensure businesses pass on the benefits fully to consumers.