Center Appears to Have Achieved Fiscal Year 2024 Gross Tax Objective

Center Appears to Have Achieved Fiscal Year 2024 Gross Tax Objective

The year 2023-24 not only witnessed multi-year high tax buoyancy levels – mainly on the direct taxes front – but also higher level of compliance from taxpayers, and strict enforcement measures against tax evaders. Total tax receipts (before devolution to states) of the Centre in FY24 “slightly exceeded” the revised estimate (RE) of Rs 34.37 trillion in the year, an official source told FE on condition of anonymity, even as the figures are being computed.

Tax Revenue Performance in FY24

Revenue Figures

Tax Buoyancy and Collection Trends

Indirect Tax Performance

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