Prime Minister Narendra Modi referenced an SBI report to highlight India’s significant income growth over the past nine years. He noted that the weighted mean income has surged from Rs 4.4 lakh in AY14 to Rs 13 lakh in FY23. The report projects per capita income to rise from Rs 2 lakh in FY23 to Rs 14.9 lakh in FY47. Modi emphasized the widening tax base and increased tax filings across various income brackets. The SBI research also revealed promising growth in income tax participation across states, with Uttar Pradesh notably excelling. The findings underscore India’s progress toward economic prosperity and its aspirations for 2047.