India's Rising Prosperity

Published By : Admin | August 18, 2023 | 15:56 IST

Recently, I came across two insightful research pieces, which would interest all those passionate about India’s economy: one from SBI Research and another by Mr. 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 (based on ITR returns) that the weighted mean income has made a commendable leap in the last 9 years, from Rs 4.4 lakh in AY14 to Rs 13 lakh in FY23.


Mr. Padmanabhan's study of ITR data suggests 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.


Further, the research highlights the positive performance, in terms of increase in Income tax filings, 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, highlighting that our smaller states and that too from the Northeast, namely Manipur, Mizoram, and Nagaland, have exhibited an admirable growth of over 20% in ITR filings in the last 9 years.


This shows that not only have incomes risen but so has compliance. And, this is a manifestation of the spirit of trust which the people have in our Government.


These findings not only reflect our collective efforts but also reiterate our potential as a nation. 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.

https://www.linkedin.com/pulse/indias-rising-prosperity-narendra-modi

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Tribute to Shri Ratan Tata
November 09, 2024

It has been a month since Shri Ratan Tata Ji left us. From bustling cities and towns to villages, his absence is deeply felt across every segment of society. Seasoned industrialists, budding entrepreneurs and hardworking professionals mourn his loss. Those passionate about the environment and devoted to philanthropy are equally saddened. His absence has been deeply felt not only across the nation but also around the world.

For the youth, Shri Ratan Tata was an inspiration, a reminder that dreams are worth pursuing and that success can coexist with compassion as well as humility. For others, he represented the finest traditions of Indian enterprise and a steadfast commitment to the values of integrity, excellence and service. Under his leadership, the Tata Group ascended to new heights, embodying respect, honesty and credibility worldwide. Despite this, he wore his achievements lightly, with humility and kindness.

Shri Ratan Tata’s unwavering support for the dreams of others was one of his most defining qualities. In recent years, he became known for mentoring India’s StartUp ecosystem, investing in many promising ventures. He understood the hopes and aspirations of young entrepreneurs and recognised the potential they had to shape India’s future. By backing their efforts, he empowered a generation of dreamers to take bold risks and push boundaries. This has gone a long way in creating a culture of innovation and entrepreneurship, which I am confident will continue to positively impact India for decades to come.

He constantly championed excellence, urging Indian enterprises to set global benchmarks. This vision, I hope, will inspire our future leaders to make India synonymous with world-class quality.

His greatness was not restricted to the boardroom or helping fellow humans. His compassion extended to all living beings. His deep love for animals was well-known and he supported every possible effort focused on animal welfare. He often shared photos of his dogs, who were as much a part of his life as any business venture. His life was a reminder to us all that true leadership is measured not just by one’s achievements, but by one’s ability to care for the most vulnerable.

For crores of Indians, Shri Ratan Tata’s patriotism shone brightest in times of crisis. His swift reopening of the iconic Taj Hotel in Mumbai after the 26/11 terror attacks was a rallying call to the nation—India stands united, refusing to yield to terrorism.

On a personal note, I had the privilege of knowing him very closely over the years. We worked closely in Gujarat, where he invested extensively, including in many of the projects he was very passionate about. Just a few weeks ago, I was in Vadodara with the President of the Government of Spain, Mr. Pedro Sánchez and we jointly inaugurated an aircraft complex where C-295 aircrafts would be made in India. It was Shri Ratan Tata who started working on this. Needless to say, Shri Ratan Tata’s presence was greatly missed.

I remember Shri Ratan Tata Ji as a man of letters—he would frequently write to me on various issues, be it matters of governance, expressing appreciation for government support, or sending congratulatory wishes after electoral victories.

Our close interactions continued when I moved to the Centre and he remained a committed partner in our nation-building efforts. Shri Ratan Tata’s support for the Swachh Bharat Mission was particularly close to my heart. He was a vocal advocate of this mass movement, understanding that cleanliness, hygiene and sanitation are vital for India’s progress. I still remember his heartfelt video message for the Swachh Bharat Mission’s tenth anniversary at the start of October. It was among his final public appearances.

Another cause close to his heart was healthcare and especially the fight against cancer. I recall the programme in Assam two years ago, where we had jointly inaugurated various cancer hospitals in the state. In his remarks that time, he had categorically stated that he wishes to dedicate his final years to healthcare. His efforts to make health and cancer care accessible and affordable were rooted in a profound empathy for those battling diseases, believing that a just society was one that stood by its most vulnerable.

As we remember him today, we are reminded of the society he envisioned—where business can serve as a force for good, where every individual’s potential is valued and where progress is measured in the well-being and happiness of all. He remains alive in the lives he touched and the dreams he nurtured. Generations will be grateful to him for making India a better, kinder and more hopeful place.