Business Standard

Statsguru: Six charts explain govt's tax collections are beating estimates

The Budget on Tuesday is likely to increase the tax revenue projections by Rs 30,000-40,000 crore compared to the Interim Budget in February

Tax
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Samreen Wani

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The Union government’s tax collections are beating estimates. The latest July figure showed nearly 20 per cent growth in the gross direct tax collections for 2024-25 (FY25) to Rs 6.5 trillion (chart 1), largely driven by an increase in advance tax payments.
 

 
The Budget on Tuesday is likely to increase the tax revenue projections by Rs 30,000-40,000 crore compared to the Interim Budget in February, Business Standard had reported earlier. Gross tax revenue as a percentage of gross domestic product (GDP) was already near its highest level in many years (chart 2).


 
Personal income-tax

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