PM Narendra Modi shares blog post on LinkedIn on ‘India’s Rising Prosperity’ | DETAILS

Prime Minister Narendra Modi on Friday shared his blog post on ‘India’s Rising Prosperity’, the place he talked in regards to the nation’s thriving financial system. The blog is posted on the LinkedIn platform. In his post, the Prime Minister talked about about two analysis items on India’s financial system: One from SBI Research and one other by Anil Padmanabhan, a famous journalist. 

Sharing the post, PM Modi mentioned these analyses present info that ought to excite everybody – that India is making exceptional strides in the direction of attaining equitable and collective prosperity. 

Here are some fascinating snippets from these analysis works:

SBI Research

• The analysis by SBI has identified (primarily based on ITR returns) that the weighted imply revenue has made a commendable leap within the final 9 years, from Rs 4.4 lakh in AY14 to Rs 13 lakh in FY23.
• The SBI report additionally brings forth an encouraging be aware, highlighting that our smaller states and that too from the Northeast, particularly Manipur, Mizoram, and Nagaland, have exhibited an admirable progress of over 20% in ITR filings within the final 9 years.
• This reveals that not solely have incomes risen however so has compliance. And, this can be a manifestation of the spirit of belief that the folks have in our authorities.

Padmanabhan’s Research 

• His examine of ITR knowledge suggests a widening tax base, throughout varied revenue brackets.
• Each bracket has seen a minimal threefold improve in tax filings, some even attaining an almost fourfold surge.
• Further, the analysis highlights the constructive efficiency, by way of improve in Income tax filings, throughout states. 
• When evaluating ITR filings between 2014 and 2023, the info paints a promising image of elevated tax participation throughout all states.
• ITR knowledge evaluation reveals the state of Uttar Pradesh has emerged as one of many top-performing states in relation to ITR filings. 
• In June 2014, Uttar Pradesh reported a modest 1.65 lakh ITR filings, however by June 2023, this determine had skyrocketed to a formidable 11.92 lakh.

The Prime Minister additionally said that these outcomes verify India’s potential as a rustic and replicate its collaborative efforts. Growing prosperity implies constructive societal development. “Undoubtedly, we are standing at the cusp of a new era of economic prosperity and are on course towards fulfilling our dream ‘Viksit Bharat’ by 2047,” PM Modi added. 

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