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Income levels rose at remarkable rate in 9 years: PM Modi
Mint Mumbai
|August 19, 2023
Prime Minister Narendra Modi on Friday said India is making significant strides towards achieving equitable and collective prosperity, as evidenced by a broader tax base and a rise in the average income of people filing tax returns.
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Citing two separate analysis, Modi said in a short article posted on social media that research showed that not only have incomes risen but so has compliance, calling it “a manifestation of the spirit of trust which the people have in our government."
Citing research by SBI, the PM said the weighted mean income has made “a commendable leap" in nine years, from Rs4.4 lakh in assessment year (AY) 2014 to Rs13 lakh in FY23. In FY23, tax payers filed returns for incomes earned in the previous financial year.
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