మూడున్నర లక్షల కోట్లు తగ్గిన కేంద్ర పన్నుల ఆదాయం, ఆరు కారణాలు||Govt taxes dipped by 3.5lakh crores||
The Centre is set to incur a massive gross tax receipts (GTR) shortfall of around Rs 3.5 lakh crore or nearly 15% of the Budget estimate (BE) in 2019-20, owing to a big decline in nominal GDP growth, unrealistic budget assumptions of revenue buoyancy and deep corporate tax cuts. A series of GST rate reductions, unchecked GST evasion and a dip in imports too have dented the tax kitty.
In terms of Centre’s net tax receipts — after mandatory devolution to states from the divisible tax pool — the shortfall wou-ld be around Rs 2.45 lakh crore. Such a shortfall would be an all-time high in absolute term, for the first time in at least two decades. This financial year might also witness a year-on-year contraction in direct tax revenue.
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మూడున్నర లక్షల కోట్లు తగ్గిన కేంద్ర పన్నుల ఆదాయం, ఆరు కారణాలు||Govt taxes dipped by 3.5lakh crores|| The Centre is set to incur a massive gross tax receipts (GTR) shortfall of around Rs 3.5 lakh crore or nearly 15% of the Budget estimate (BE) in 2019-20, owing to a big decline in nominal GDP growth, unrealistic budget assumptions of revenue buoyancy and deep corporate tax cuts. A series of GST rate reductions, unchecked GST evasion and a dip in imports too have dented the tax kitty. In terms of Centre’s net tax receipts — after mandatory devolution to states from the divisible tax pool — the shortfall wou-ld be around Rs 2.45 lakh crore. Such a shortfall would be an all-time high in absolute term, for the first time in at least two decades. This financial year might also witness a year-on-year contraction in direct tax revenue.