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India Plans Major Economic Reforms in Next 100 Days: GST 2.0, Trade Easing with China, Start-up Tax Rebates and Export Boost on Agenda
India is moving towards major economic reforms in view of the Trump tariff and the change in the global scenario. The government can take many decisions in the next 100 days, like normalizing trade relations with China, starting an e-commerce export hub, and giving relaxation in environmental rules for the leather industry. The PMO is working on a new version of GST in collaboration with the NITI Aayog.
Considering the Trump tariff and the fast-evolving global situation, India has awakened in the direction of introducing significant economic reforms. Prime Minister Narendra Modi has already stated that GST would be reformed. The government ministries have now begun to work on the likely significant economic choices to be made in the next 100 days.
These choices involve relaxation of trade ties with China, establishment of an e-commerce export platform, ease in environmental regulations for the leather sector, additional tax rebates to start-ups, extension of the time limit for renewal of registration of pharma and tobacco traders, and further modernizing the industrial approval portal.
The Finance Ministry has to implement the new version of GST in the next 100 days, work on which has already started. The Prime Minister's Office is also holding meetings with the members of the Cabinet's Economic Committee, along with the NITI Aayog, the Prime Minister's Economic Advisor, in this direction.
