[ad_1] Revenue Secretary Tarun Bajaj on Thursday said tax revenue collection in the current fiscal is expected to be much better than the budget estimate.In the last fiscal, there was an increase of 20 per cent in indirect taxes and 49 per cent in direct taxes. The tax-to-GDP ratio rose to 11.7 per cent in 2021-22 – the highest since 1999. In 2020-21, the ratio was 10.3 per cent. The country’s tax collection touched a record high of Rs 27.07 lakh crore last year as compared to the budget estimate…
Tag: Estimates
Tax revenue in 2021-22 exceeds Union Budget Estimates by ₹5 lakh crore
[ad_1] Tax revenue in the Union Budget for 2021-22 was projected to grow by 17% to Rs 22.17 lakh crore as against the revised estimate of Rs 19 lakh crore. Union Budget was presented on 1scheduled tribe February, 2021 when 1scheduled tribe The COVID wave in India had subsided but the world was facing continuous waves. As against the Union Budget Estimate of Rs 22.17 lakh crore, the revenue collection as per pre-actual figures is Rupee.27.07 lakh crore, approx. Rupee.5 lakh crore more than the budget estimate. This is an…
Tax revenue in 2021-22 exceeds Union Budget Estimates by ₹5 lakh crore
[ad_1] Tax revenue in the Union Budget for 2021-22 was projected to grow by 17% to Rs 22.17 lakh crore as against the revised estimate of Rs 19 lakh crore. Union Budget was presented on 1scheduled tribe February, 2021 when 1scheduled tribe The COVID wave in India had subsided but the world was facing continuous waves. As against the Union Budget Estimate of Rs 22.17 lakh crore, the revenue collection as per pre-actual figures is Rupee.27.07 lakh crore, approx. Rupee.5 lakh crore more than the budget estimate. This is an…