Next week, the Modi government will present its final statement of accounts on revenue and expenditure. They will almost certainly show that government finances have improved over the five years of Arun Jaitley’s stewardship, the reference point being the previous government’s final year of 2013-14. Tax revenue is budgeted to increase by 81 per cent, in a period when GDP (at current prices, ie including inflation) would have grown 67 per cent. Even factoring in some shortfall against the Budget estimates for the current year, the government would have done well to raise tax revenue faster than GDP growth, though
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