Page 23 - NIS English Jul 16-31 2024

Decade of Tax Reforms

Annual Information Statement (AIS) thousand crore for the poor and middle-class people living
in cities who have bought medicines from Jan Aushadhi
n Annual Information Statement (AIS) has been Kendra. Now the government is eyeing to increase the
number of Jan Aushadhi Kendras to 25 thousand. In
introduced for the convenience of the taxpayers and
the past years, the country has seen a revolution in LED
ease of compliance.
bulbs due to the Ujala Yojana. This has also reduced the
n AIS is the center of all the economic information of the
electricity bills of urban families a lot. Now the Central
taxpayer including financial transactions. It is being
Government has started the PM Surya Ghar Muft Bijli
made available to the taxpayer under the AIS tab on
Yojana. By installing a 3 kW rooftop solar unit under it, a
the e-filing portal of the department.
family that consumes up to 300 units of electricity every
n AIS contains information on property purchased, month will be able to save about Rs 15 thousand annually.
large investments, fixed deposit interest, savings bank
account, profit, share purchase-sale. The role of middle class in development
When a government of any country is sensitive towards the
n This data is pre-populated in ITR, which allows
poor, and works with clear intentions to remove the problems
taxpayers to file their returns correctly and seamlessly.
of the poor, then it also yields results. One such result is the
n More than 37 crore AIS were filed in FY 2023-24, while 12
coming out of poverty of about 25 crore people in the last 10
years. In a country where slogans of Garibi Hatao were given
crore were filed last year.
Many payment options for decades, the coming out of poverty of about 25 crore
people in just one decade is historic. Somewhere behind all
this are the reforms done by the government at every level,
n Many payment options like Net Banking, UPI,
the measures taken for social security.
RTGS, and NEFT have been made available.
Now the system emphasizes providing them facilities.
Earlier people left everything to their fate. Just think,
before 2014, out of every 100 families in the country,
only 50-55 families, i.e. almost half the houses had LPG
gas connections.
The growing middle class in India and decreasing
poverty, these two factors are becoming the basis of
a very big economic cycle. The number of people who
are coming out of poverty and becoming part of the neo-
middle class are emerging as the driving force behind
the growth of consumption in the country. That is, the
decreasing poverty in the country is also benefiting the
middle class. The aspirations and willpower of the poor
and middle class are powering the development of the
country today. The power of these people has made
India the 5th largest economy from the 10th largest
economy. Now this willpower is going to make India the
When the life of an honest
taxpayer of the country third largest economy in the world in the third term of the
current central government.
becomes easy, he moves
forward and develops, and then Certainly, in the last 10 years, India has seen a
new model of good governance developing in tax
the country also develops and administration. Respecting this feeling of trust, rights,
leaps forward.
and responsibilities, 140 crore citizens of the country
are moving towards realizing the resolution of New
- Narendra Modi, India, Aatmanirbhar Bharat because ease of living,
Prime Minister along with quality of life is one of the top priorities of the
central government. n

New India Samachar July 16-31, 2024 21