Prime Minister Narendra Modi recently shared insights on LinkedIn, highlighting the positive economic trajectory of India through two newly published reports.
In a LinkedIn post, PM Modi drew attention to the significance of two distinct research studies—one conducted by SBI Research and the other by journalist Anil Padmanabhan. These reports collectively illuminate India’s remarkable strides towards fostering equitable and collective prosperity.
Expounding on the details, PM Modi delved into the findings of the SBI Research report, which scrutinized income tax returns spanning from FY11 to FY22. The report revealed a notable leap in the weighted mean income over the span of 9 years, soaring from Rs 4.4 lakh in AY14 to Rs 13 lakh in FY23.
The Prime Minister further emphasized the insights gleaned from Anil Padmanabhan’s study, which indicated an expanding tax base across various income brackets. He highlighted a graph illustrating individual tax filing trends, showcasing a considerable threefold increase in tax filings for each income bracket.
Directing attention to another positive facet of the research, PM Modi discussed the growth in income tax filings across different states of India. By comparing ITR filings between 2014 and 2023, he underscored the promising trend of heightened tax participation evident across the nation.
Uttar Pradesh stood out as a noteworthy state in terms of ITR filings, as per the study. PM Modi also noted a fascinating finding from the SBI report—smaller states, including those in the northeastern region, demonstrated a remarkable growth rate of over 20% in ITR filings over the past 9 years.
Summing up, PM Modi expressed that these findings underscore not only the collective efforts of the nation but also highlight its substantial potential. He pointed out that the growing prosperity augurs well for India’s overall progress and signifies the advent of a new era of economic well-being for the country.
