A Decade of Reform, ETCFO

New Delhi [India], June 5 (ANI): The Modi authorities on the Centre, simply days away from turning 11, stated folks’s hopes, wants and aspirations haven’t simply been heard, but additionally acted upon with objective, because it highlighted a number of initiatives taken up by the federal government.

In a report launched by the Press Info Bureau Analysis Unit on Thursday, the federal government stated that, from tax reduction leaving more cash in folks’s arms to pension schemes that promise safety in previous age, the final eleven years have seen a gradual and honest effort to make life simpler, fairer, and extra dignified for Indians.

“The federal government has lower by means of purple tape, simplified guidelines and made on a regular basis techniques work higher. Be it submitting taxes, shopping for a house, commuting to work or affording medicines, issues have change into less complicated and extra accessible. These will not be scattered adjustments however a sample of reforms that talk to the actual considerations of atypical residents. What stands out is the consistency,” the report’s preamble learn.

Over the previous eleven years, the federal government stated it has gone past token measures to make an actual distinction within the lives of the center class. From decreasing earnings tax charges to simplifying returns, each transfer, it stated, has been aligned with the core concept of letting residents maintain extra of what they earn.

“The method has been clear. Take heed to residents, simplify the system and ship on guarantees,” the report card stated.

The newest tax reforms, particularly these within the Union Price range 2025-26, are a transparent signal that the Authorities has positioned its belief within the center class as a pillar of nationwide progress.

It stated the hassle has been fixed and targeted, whether or not elevating the earnings threshold for zero tax, introducing a simplified tax regime, or making return submitting simpler than ever.

A serious change was introduced within the Union Price range 2025-26: people incomes as much as Rs 12 lakh yearly will now pay no earnings tax, besides on particular incomes like capital features.

With the usual deduction of Rs 75,000, even these incomes Rs 12.75 lakh pays no tax.

These enhanced tax exemptions led to the federal government giving up almost Rs 1 lakh crore in income.

The federal government has as soon as once more lauded itself for making earnings tax return filings easy.

In line with the federal government, the simplification in ITR submitting is mirrored within the rise of particular person ITR filings, which elevated from 3.91 crore in 2013-14 to 9.19 crore in 2024-25, a 135 per cent rise.

On the inflation administration entrance, the federal government boasted that the worth rise remained beneath management beneath the present administration.

“Issues started to vary from 2014. Over the subsequent eleven years, inflation got here beneath agency management. From 2015-16 to 2024-25, the common fee fell to only 5 per cent. The distinction is seen not solely within the numbers however in day by day life. Secure costs gave households respiratory room,” the report learn.

The report touched upon reform-oriented initiatives resembling Unified Pension Scheme, Sensible Cities Mission, Pradhan Mantri Awas Yojana (City), growth in metro community, UDAN scheme, Ayushman Bharat, Jan Aushadhi scheme, Pradhan Mantri Kaushal Vikas Yojana, amongst others. (ANI)