Gross tax revenue is estimated at Rs 16.3 lakh crore for 2016-17, which is around 11 per cent higher than revised gross tax revenue of Rs 14.5 lakh crore for the current fiscal.
As per the Budget documents, the government estimates gross tax revenue of Rs 16,30,888 crore in 2016-17 against revised gross tax revenue of Rs 14,59,611 crore in the current fiscal year -- a growth of 11.73 per cent.
The government also estimates non tax-revenue to rise by 24.88 per cent to Rs 3,22,921 crore in 2016-17 from Rs 2,58,576 crore in the ongoing fiscal year.
Indirect tax, which includes customs, excise duties and service tax, is projected at Rs 7,79,670 crore for next fiscal against Rs 7,03,642 crore (revised estimate) for the current fiscal year.
Direct tax collection which includes corporation tax, income tax and wealth tax is estimated to rise by 12.64 per cent to Rs 8,47,097 crore in next fiscal year from Rs 7,52,021 crore in 2015-16.
