Page 10 - NIS English 16-30 September, 2023

Article PM's LinkedIn post

WE STAND AT THE CUSP OF A NEW

ERA OF ECONOMIC PROSPERITY

ecently, I came across two insightful research
pieces, which would interest all those, passionate
Rabout India’s economy: one from SBI Research and
another by Anil Padmanabhan, a noted journalist. These
analyses shed light on something that should make us
very happy- That India is making remarkable progress on
achieving equitable and collective prosperity.
I thought of sharing some interesting snippets from
these research works:
The research by SBI has pointed out that the average
income of people has increased significantly in the last
nine years. The average income of the people in FY 2014
was Rs. 4.4 lakh, which has increased to Rs. 13 lakh
The growing prosperity in FY 2023
An ITR data study done by Padmanabhan's suggests
of India is becoming the a widening tax base
basis of the resolution across various income we are standing at
of 2047 for a Viksit brackets. Each bracket the cusp of a new

Bharat. Based on some has seen a minimum
threefold increase in
independent research, tax filings, with some era of economic
Prime Minister Narendra even achieving a prosperity and
Modi shared a post on nearly fourfold surge. are on course
LinkedIn about India's Further, the research towards fulfilling
highlights the positive
remarkable progress performance, in terms our dream ‘Viksit
towards achieving of an increase in Bharat’ by 2047.

equitable and collective income tax filings,
prosperity. across states. When
comparing ITR filings between 2014 and 2023, the data
paints a promising picture of increased tax participation
across all states.
For instance, ITR data analysis shows the state of Uttar
Pradesh has emerged as one of the top-performing states
when it comes to ITR filings. In June 2014, Uttar Pradesh
reported a modest 1.65 lakh ITR filings, but by June 2023,
this figure had skyrocketed to an impressive 11.92 lakh.
The SBI report also brings forth an encouraging note,

8 New India Samachar September 16-30, 2023