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.

Modi also said a study by noted journalist Anil Padmanabhan suggested a widening tax base, across various income brackets.

Each bracket has seen a minimum threefold increase in tax filings, some even achieving a nearly fourfold surge, Modi said.

Further, the research highlighted positive performance, in terms of increase in income tax filings, across states, he said. When comparing income tax return (ITR) filings between 2014 and 2023, the data paint a promising picture of increased tax participation across all states, he said, citing Padmanabhan’s research.

For instance, ITR filing data analysis showed Uttar Pradesh has emerged as one of the top-performing states in filings. In June 2014, UP reported a modest 165,00 ITR filings, but by June 2023, the figure rose to 1.19 million, Modi said.

The SBI report highlighted that smaller states, including from the Northeast such as Manipur, Mizoram, and Nagaland, have shown over 20% growth in ITR filings in the last nine years, Modi said.

These findings, he said, not only reflect the collective efforts but also reiterate the nation’s potential.

“Growing prosperity augurs well for national progress. 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,” Modi said.

The Central Board of Direct Taxes (CBDT) said earlier this month that the total ITRs for assessment year 2023-24 filed till 31 July was more than 67.7 million, a 16.1% rise compared to returns filed for assessment year 2022-23 till 31 July 2022.

The Centre collected Rs5.84 trillion in net direct tax revenues till 10 August, more than 17% rise over what was collected a year earlier, as per data available from the tax authority.

This accounts for about a third of the Rs18.2 trillion direct tax collection target of the government for FY24.

Updated: 18 Aug 2023, 10:48 PM IST