Finance Minister Nirmala Sitharaman has said that tax revenue up has gone up in the last few years without tax rate hike. Addressing the 164th Income Tax Day celebrations in New Delhi this evening, Ms Sitharaman said, efficiency in the tax collection system aided the robust tax mop-up. She said, the Indian economy is getting more and more formalized. The Finance Minister said, Prime Minister Narendra Modi has been clear that technology is the answer to most problems and Central Board of Direct Taxes CBDT has been working on that. Lauding CBDT, she said, evasions have been brought down. Ms Sitharaman said, distinct positive changes have come about in income tax assessments because of technology. Ms Sitharaman said, Section 43(B) of the Income Tax Act has helped Small and Medium businesses. She said, there is a constant attempt to make income tax people-friendly.
 
Minister of State for Finance Pankaj Chaudhary, Revenue Secretary Sanjay Malhotra, and Chairman CBDT Nitin Gupta were present on the occasion.