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Tax Revenue Collection in FY 22

Published on April 09, 2022
Current Context: Tax revenue collection in FY22 exceeded the budget estimate by almost INR 5 lakh crore.
Tax Revenue Collection in FY 22
  • The total Tax revenue collected is INR27.17 lakh crore against the budget estimate of INR 22.17 lakh crore. This is a growth of 34% over last year’s tax revenue (which was 20.27 lakh crore).
  • Direct tax grew by 49% and indirect tax by 20%.
  • Tax-GDP ratio was the highest at 11.7%.
  • Gross Corporate tax collection – INR 8.6 lakh crore.
  • CGST revenue – INR 5.9 lakh crore.
  • Customs Duty witnessed a growth of 48%.

Question:

Q.1 What was the tax-GDP ratio for the year FY 22?
a. 9.7%
b. 11.7%
c. 12.7%
d. 13.7%
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