Indicating that the government would not hesitate to take steps to widen the tax base, he said that development was not possible without enlarging the tax kitty. ''There is only about Rs. Five lakh crore in the kitty of Finance Minister Arun Jaitley for development and it needs to grow,'' he said.
Mr. Ravi Shankar Prasad said that Aadhar enabled bank payments through smart phone would prove to be a ''game changer'' and a tool of empowerment. He said that out of 125 crore people only 3.7 crore pay taxes and 99 lakh file Income Tax returns but have no taxable income, two crore people show annual income of Rs. 6 lakh and only 24 lakh have an annual income of Rs. 10 lakh and above.
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