NEW DELHI: Prime Minister Narendra Modi on Monday chaired a high-level assembly with senior ministers, secretaries and economists to debate the roadmap for ‘next-generation reforms’ and a revision of GST legal guidelines.Sharing a publish on X, the Prime Minister mentioned, “Chaired a gathering to debate the roadmap for Subsequent-Technology Reforms.”“We’re dedicated to speedy reforms throughout all sectors, which is able to increase Ease of Residing, Ease of Doing Enterprise and prosperity,” he added.The assembly was attended by Union ministers Rajnath Singh, Amit Shah, Nitin Gadkari, Nirmala Sitharaman, Shivraj Singh Chouhan, Piyush Goyal and Lalan Singh.This excessive degree assembly got here after PM Modi’s Independence Day tackle, the place he promised a “Diwali reward” within the type of GST reforms and a lighter tax burden. “This Diwali, I’m going to make it a double Diwali for you… Over the previous eight years, we’ve got undertaken a significant reform in GST… We’re bringing next-generation GST reforms. This may scale back the tax burden throughout the nation,” he mentioned, guaranteeing that these reforms instantly profit residents and stimulate financial exercise.Following his announcement, the Centre rolled out a draft blueprint for GST 2.0, proposing two main tax slabs, 5% for important objects and 18% for many different items, to simplify the system and ease compliance.Presently, the GST framework has 5 slabs—nil, 5%, 12%, 18% and 28%—with extra charges of 0.25% and three% on valuable metals.PM Modi additionally introduced the formation of a Process Power for next-generation reforms, which is able to assessment present legal guidelines, guidelines and procedures associated to financial actions.The timing of those bulletins is critical, as they arrive amid heightened commerce tensions with america.US President Donald Trump slapped India with an extra “penalty” tariff of 25% on all Indian imports, on high of the 25% obligation already in place, citing India’s continued buy of Russian oil. Whereas the 25% fee took impact from August 7, 2025, the newly introduced extra tariff will come into place August 27.In response, the ministry of exterior affairs referred to as the transfer “unlucky” and reiterated its stand that India would proceed to guard its “personal nationwide curiosity.”