Prime Minister Narendra Modi on March 7 addressed stakeholders in the financial services sector in a post-budget webinar in which he said the tax burden has been coming down due to the rational tax system in place.
Modi said the tax burden has come down significantly in India due to the goods and services tax (GST), reduction in income tax and corporate tax. This, he said, has resulted in better tax collection.
This, the PM said, has resulted in better tax collection. In 2013-14 gross tax revenue was about Rs 11 lakh crore which can rise to Rs 33 lakh crore in 2023-24, an increase of 200 percent. The number of individual tax returns filed increased from 3.5 crores to 6.5 crores from 2013-14 to 2020-21.
“Paying tax is such a duty, which is directly related to nation building. The increase in the tax base is proof that people have faith in the government, and they believe that the tax paid is being spent for public good”, the Prime Minister said.
Read more at : CNBCTV18
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