 "Personal tax collections buoyant in NDA term but indirect taxes a concern")
Over the past five years, the central government’s gross tax revenues have grown at a much higher pace than nominal GDP (gross domestic product) growth. But while personal income tax collections have almost doubled during this period, indirect tax collections have suffered of late, with compliance falling as the country shifted to the goods and services tax (GST) regime. On the other hand, non-tax revenue growth has barely kept up pace with nominal GDP growth.
At the aggregate level, the central government’s gross tax revenues are budgeted to rise to Rs 22.7 trillion (12.1 per cent of GDP) at
At the aggregate level, the central government’s gross tax revenues are budgeted to rise to Rs 22.7 trillion (12.1 per cent of GDP) at
