Speaking at the Times Now Summit, PM Modi said government wants to make sure that the taxpayers are not burdened. He said that the process-centric tax system, which had been predominant in India, was being made people-centric now.
The PM spoke about reforms like the GST, introduction of optional income tax slabs in this year's budget and reduction in corporate tax. He said that the government reduced the average GST rate which was at 14.4% and brought it down to 11.8%. The PM also highlighted the government's efforts towards making income tax assessments and appeals faceless to remove discretion and harassment.
PM Modi also spoke about the importance of paying taxes and how it helps in developing infrastructure as well as ensuring basic amenities for all. Urging people to pay taxes for the country's development, PM Modi said, "More than three crore people went abroad for business or as tourists. Many people bought cars. But the situation is such that out of a population of 130 crores, only 1.5 crores have paid income tax." He also said, "What is unbelievable but true is that only 2,200 professionals in the country had declared earnings of Rs 1 crore per annum!"
