India taking responsible step to safeguard taxpayers' rights: PM Modi

Prime Minister Narendra Modi on Wednesday said that the country is taking a "responsible step to safeguard taxpayers' rights."

Prime Minister Modi, who was speaking at the Times Now Summit 2020, also assured the people that "tax harassment is a thing of the past" now.

"India is one of a few countries where taxpayers' charter will be implemented to define their rights. There is no charter even in rich nations. India is taking a responsible step to safeguard taxpayers' rights. I want to assure that tax harassment is a thing of the past," Modi said.

With the help of modern technology, the country is moving ahead in the direction of tax encouragement, he said.

However, the Prime Minister said that only 1.5 crore people pay income tax in the country.

He said that in such a massive country like India, only 2,200 individuals have declared their annual income over Rs 1 crore.

The Prime Minister said that the Central government is focusing on Tier-I and Tier-III cities.

"For the first time, a government has focused on the economic growth of small cities as well. We have honoured the big dreams of these small cities," he said and urged the people to take a pledge and pay taxes.

He said that making the Indian economy worth USD five trillion is not easy, but still is achievable.

"Making Indian economy worth USD 5 trillion is not easy but is still achievable. Today, India's economy is worth USD 3 trillion... Did you ever hear that in the country a target was set to reach USD 3 trillion economy? Never. We reached (the target) of USD 3 trillion in 70 years," he said.

"Earlier, no one asked why it took so long and nobody gave an answer. Now we have set a target, facing the questions and making all-out efforts to achieve this target," he added.

"For achieving the goal of being a USD 5 trillion economy, it is very important that there is an increase in manufacturing output and exports as well. The government has taken several decisions for this," he said.

Highlighting various decisions taken by the BJP-led Central government during its second tenure, Prime Minister Modi said that today's 'New India' has left behind most of its problems.