Government's earnings increased under PM Modi's rule, income tax collection increased by 173% in 10 years

Ever since Prime Minister Narendra Modi's government came to power, its focus has been on increasing tax collection. In the financial year 2022-23, the government's direct tax collection has increased by 173 percent as compared to 2013-14. Read this news...

During the tenure of Prime Minister Narendra Modi, many reforms were done regarding tax collection, and now its benefits are also visible. In the financial year 2022-23, the government's direct tax collection has increased by 173 percent as compared to 10 years ago. On the other hand, if the amount of income tax refund is reduced, then the tax collection of the government is 160 percent more as compared to 2013-14.

The gross direct tax (mainly income tax and corporate income tax) collection of the government in the financial year 2022-23 has been Rs 19.68 lakh crore. This is 173 percent more than Rs 7.21 lakh crore in 2013-14.

Not only this, after calculating the refund, the net direct tax collection of the government in 2022-23 has been Rs 16.61 lakh crore, which was only Rs 6.38 lakh 10 years ago. That is, there has been a growth of 160 percent in the net income of the government.

CBDT released new figures

These new figures related to tax collection have been released by the Central Board of Direct Taxes (CBDT). The final decision related to the Income Tax Department is taken by the CBDT. These figures for the financial year 2022-23 are still provisional, it may improve further later. Along with this, CBDT has also released the updated figures for the financial year 2021-22.

If we look at the direct tax collection in proportion to GDP, it was equal to 5.62 percent of GDP in the financial year 2013-14. Whereas in 2021-22 it increased to 5.97 percent.

In order to increase the tax collection during the tenure of the Modi government, many reforms like demonetisation, GST, simplifying the process of filing income tax returns, getting refunds into people's accounts as soon as possible, creating a task force on black money and creating a new income tax site Has happened.

GST collection also increased

A few days ago, the government had also released the data of Goods and Services Tax collection (GST collection). In March 2023, it has been Rs 1.6 lakh crore. At the same time, during the financial year 2022-23, the gross GST collection jumped by 22 percent to Rs 18.1 lakh crore.