PM Modi speech highlights: 'Double Diwali' gift, GST rate cut, ₹15,000 for first job and more

PM Modi also said that starting today, youths getting their first job in the private sector will receive ₹15,000 from the Government under Pradhan Mantri Viksit Bharat Rojgar Yojana.

Addressing the nation from the Red Fort, PM Modi said that the revisions in GST would be rolled out around Diwali. He termed the upcoming GST reforms as "Double Diwali" for the people.

"This Diwali, I am going to give you a 'Double Diwali' gift. A major announcement is coming for the people of the country. Over the past eight years, we implemented a major GST reform that significantly reduced the tax burden across the nation. Now, after eight years, the time has come to review it. We have formed a high-powered committee to begin this review process and held consultations with the states as well. We are now bringing in next-generation GST reforms. This will become a Diwali gift for the nation," PM Modi said.

According to the PM, these reforms would directly impact essential goods and daily needs, which in turn will help reduce the tax burden on common citizens.

"Tax rates on essential goods and daily needs will be reduced under a simplified framework. This will bring significant relief and convenience. Our MSMEs and small industries will also benefit greatly from these changes," he said.

₹15,000 for first job

The Prime Minister also announced Pradhan Mantri Viksit Bharat Rojgar Yojana under which anyone getting their first job in the private sector will receive ₹15,000 from the government.

"My country’s youth, today is 15th August, and on this very day, we are launching a scheme worth ₹1 lakh crore for the youth of our country. From today, the Pradhan Mantri Viksit Bharat Rojgar Yojana is being implemented... Under this scheme, young men and women getting their first job in the private sector will receive ₹15,000 from the government. Companies that create more employment opportunities will also be given incentive amounts. The Pradhan Mantri Viksit Bharat Rojgar Yojana will create nearly 3.5 crore new employment opportunities for the youth," he said.

'Samudra Manthan'

"We are now moving forward towards 'Samudra Manthan'. Bharat is going to start 'Deep Water Exploration Mission'. Advancing this endeavour, we aim to explore oil and gas reserves beneath our oceans in mission mode. It is our significant announcement to become independent on energy

"The world today is aware of the critical minerals and recognises their immense potential. For us, Atmanirbharta in critical minerals is equally vital. That is why we have launched the National Critical Mission. Exploration is underway at more than 1,200 locations, and we are moving towards self-reliance in this sector as well."

Made in India Semiconductor from 2025 end

"Our has advanced the work on semiconductors in mission mode. Six different semiconductor units are being established on the ground and we have already given green signal to four new units

"I want to tell our citizens, our youth, and everyone who understands the power of technology, that by the end of this year, Made In India semiconductor chips will be available in the market."

Entrepreneurship

"In the last 11 years, entrepreneurship has gained great power. Today, lakhs of startups in Tier-2 and Tier-3 cities are driving innovation across the country

"Similarly, through the Mudra Yojana, crores of youth, especially our daughters, have availed loans to establish their own businesses. They stand on their own feet, and give others the strength to do the same

"Over the last decade, Women Self Help Groups have achieved remarkable success. Their products are now reaching global markets, and together, these SHGs are conducting business worth lakhs of crores of rupees"

Security shield by 2035

"By 2035, over the next decade, we are committed to expanding, strengthening, and modernising our national security shield. Inspired by the wisdom and valour of Lord Shri Krishna, we have chosen the path of the #SudarshanChakra. In this spirit, the nation will soon embark on the Sudarshan Chakra Mission."

Energy targets

"It is imperative for Bharat to be #Atmanirbhar in the field of energy. We undertook the initiative and today, the solar energy capacity has increased 30-fold, over the past 11 years. We are constructing new dams for clean energy production. Bharat is investing thousands of crores of rupees under Mission Green Hydrogen

"We are also undertaking major initiatives in nuclear energy. 10 new nuclear reactors are already operational, and we are moving ahead with the resolve to increase our nuclear energy capacity tenfold by 2047

"Reform is a continuous journey. We have even opened the doors of the nuclear sector for the private sector. We aim to connect the power

"We achieved the 50% clean energy target in 2025 itself, five years ahead of the scheduled goal for 2030."