Tax Revenues Collection Exeeds the Revised Target Revenue for FY 2015-16

The cumulative Tax revenue ( Direct & Indirect Tax ) collected for the FY 2015-16 is Rs 14.60 lac Crores, more than the revised target of Rs 14.55 lac Crores. The tax revenue collection recorded a year over year growth by 17.6% as compared to the previos fiscal year.

The aggregate Budget Estimates (BE) for total Direct and Indirect Tax Revenues for FY 2015-16 was Rs 14.45 Lakh Crore and was revised to 14.55 Lakh Crore (RE).
The Indirect Tax revenue (provisional) collections stand at Rs 7.11 Lakh Crore and has exceeded the BE and RE by Rs 65,618 Crore and Rs 9,885 Crore respectively. This represents a robust growth of 31.1% over revenue receipts in 2014-15.

The Direct Tax revenue collections (prov.) stand at Rs 7.48 Lakh crore which is only slightly lower than the RE of Rs 7.52 Lakh Crore. This represents a growth of 7.61% over the receipts in 2014-15.

Keywords: tax revenue collection in india,Indian Tax Revenues 2015-16, Indirect Tax Revenue, Direct Tax Revenue