Unbelievable but true that only 2,200 had declared earnings of Rs 1 cr: PM

Previous governments hesitated to touch Indis's taxation system, the current dispensation was making it more citizen centric, PM Modi said.

While the previous governments had hesitated to touch the country's taxation system, the current dispensation was making it more citizen centric, Prime Minister Narendra Modi said on Wednesday, urging people to pay their dues for the development of India.

Speaking at the Times Now Summit, he said the concern was that as some people always found ways to evade taxes, the honest got penalised.

"All governments hesitated to touch the tax system. Now, we are making it citizen centric. When a number of people do not pay tax, find ways to evade it, the burden falls on those who honestly pay their dues," he said.

The prime minister added that it was unbelievable but true that only 2,200 people in the country had declared earnings of Rs 1 crore per annum.

He also said that this was the first time any government had focussed on smaller cities to push for economic development.

"India will not waste time now, it will surge ahead with confidence.... The Union budget will help achieve the target of a $5 trillion economy," Modi said.