Increased tax revenue mop-up keeps India on track to becoming $5 trn economy: Finance Ministry
The focus on capex in the recently announced Budget for the current fiscal year will boost manufacturing and tax revenue collections, thereby keeping India on track to becoming a USD 5 trillion economy, the finance ministry said on Thursday.
Tax revenues in last fiscal year grew by a record 34 per cent to Rs 27.07 lakh crore, which the ministry said is "a remarkable testimony to the rapid recovery" of the economy following successive waves of COVID-19. Pic: Reuters