Tax collections seen 14% higher in FY25 Union Budget
Thu, Feb 1, 2024 10:59 AM

Tax collections seen 14% higher in FY25 Union Budget

A Flip by Shubhangi Gupta
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A survey of economists predicts that FinMin will budget for a gross tax collection of Rs 38.3 lakh cr and a net collection of Rs 26.6 lakh cr in 2024-25, a 14% increase from the previous year. The relationship between GDP growth and tax collections is now complicated, but experts expect tax revenues to exceed budget estimates due to factors such as formalization, compliance, and improving growth.

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