What is the average income growth in the last nine years according to ITR data
Prime Minister states that the average income has increased from ₹4 lakh to ₹13 lakh in the past nine years.
- The average income has experienced a significant growth rate of 225% in the last nine years.
- This growth can be attributed to several factors, such as economic reforms, increasing job opportunities, and government initiatives focused on enhancing income levels.
- The rise in average income suggests an overall improvement in the financial well-being of individuals and households in the country.
- This upward income trend indicates a potential boost to the consumption and saving potential of individuals, thereby positively impacting the economy.
- It is important to note that this average income growth is based on reported figures from ITR data, which represents individuals who file tax returns and may not capture the complete picture of income growth for the entire population.
Answered
a year ago