07 March,2023 11:37 AM IST | New Delhi | PTI
Prime Minister Narendra Modi. File Pic
Prime Minister Narendra Modi on Tuesday urged India Inc to increase investment and take advantage of the opportunities unveiled in the Budget 2023-24.
Addressing the 10th webinar on Budget, Modi said the government has increased outlay on capital expenditure to Rs 10 lakh crore, the highest ever.
In this backdrop, he said, "I would also call upon the private sector of the country to increase their investment just like the government so that the country gets maximum benefit from it."
ALSO READ
PM extends greetings on commencement of sacred Jagannath Rath Yatra
Who insults parliamentary procedures on daily basis, not us: Sibal
Looking forward to discussions on strengthening bonds: PM ahead of Austria visit
Three killed, four injured in collision between autorickshaw and truck in Nanded
Fire at boys' hostel of college in Pune; no casualty
The prime minister further said as opposed to the past, the tax burden has come down significantly in India due to GST, reduction in income tax and corporate tax.
Also Read: PM Modi begins two-day visit to northeast; to attend swearing-in ceremonies in three states
This, he said, has resulted in better tax collection. In 2013-14 gross tax revenue was about Rs 11 lakh crore which rose to Rs 33 lakh crore in 2023-24, an increase of 200 per cent. The number of individual tax returns increased from 3.5 crore to 6.5 crore 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," Modi said.
He further said RuPay and UPI are not just a low-cost and highly secure technology, but it is our identity in the world.
There is immense scope for innovation and UPI should become a means of financial inclusion and empowerment for the whole world, we have to work for it.
Modi suggested that the financial institutions should also have maximum partnership with fintechs to increase their reach.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
