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At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
Personal income and corporate tax collections are likely to rise to more than Rs 19 lakh crore in 10 years of Prime Minister Narendra Modi-led government.
At this pace, the mop-up is likely to be around Rs 19 lakh crore in the fiscal ending on March 31, 2024, exceeding the estimate of Rs 18.23 lakh crore in the 2023-24 Budget.
Interim Budget: Direct tax collections, comprising personal income tax and corporate tax, are expected to surpass Rs 19 lakh crore in the current fiscal year, providing room for people-friendly tax measures. The collections have grown by 20%, and at this pace, the mop-up is likely to be around Rs 19 lakh crore, exceeding the estimate in the 2023-24 Budget.
Over the years, the government has been trying to make the tax regime simpler with lower rates and fewer exemptions