Prime Minister Narendra Modi has posted a post on the social media site LinkedIn. In it, he has explained how India is progressing towards achieving egalitarian and collective prosperity. PM has shared interesting excerpts from two research works in this. The PM said, "Recently, I found two pieces of research, which would be interesting about India's economy. The PM has told that this research has been done by one SBI and the other by a famous journalist Anil Padmanabhan.
He said, these analyzes throw light on something that should make us very happy. India is making remarkable progress towards achieving egalitarian and collective prosperity. I thought of sharing some interesting excerpts from these research works. SBI research has pointed out (based on ITR returns) that the average income has shown an appreciable jump in the last 9 years, from Rs 4.4 lakh in AY14 (Assessment Year) to Rs 13 lakh in FY2023. '
The PM said, 'Padmanabhan's study of ITR data suggests expansion of tax base across all income brackets. Every bracket has seen a minimum three times increase in tax filings, some have even achieved almost four times increase. Furthermore, the research highlights the positive performance of states in terms of increase in income tax filings. Comparing ITR filings between 2014 and 2023, the data paints a promising picture of increased tax participation across states.
Dream of 'Developed India' by 2047
For example, ITR data analysis shows that Uttar Pradesh has emerged as one of the top performing states in terms of filing ITRs. In June 2014, 1.65 lakh ITRs were filed in Uttar Pradesh, but by June 2023 this figure has increased to 11.92 lakh. These findings not only reflect our collective efforts but also reiterate our potential as a nation. Growing prosperity augurs well for national progress. Undoubtedly, we stand on the cusp of a new era of economic prosperity and are moving towards fulfilling our dream of 'Developed India' by 2047.
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