Coal news and updates

Govt’s FY16 direct tax mop-up at Rs 14.60 lakh cr

The government collected total tax (direct plus indirect) revenues worth Rs 14.60 lakh crore in financial year 2015-16, surpassing the revised target of Rs 14.55 lakh crore by Rs 0.05 lakh crore.
 

Initially, the Budget Estimate (BE) was Rs 14.45 lakh crore, which was later revised (RE) to Rs 14.55 lakh crore.
    

The aggregate BE for total direct and indirect tax revenues for FY2015-16 was Rs 14.45 lakh crore which was revised to Rs 14.55 lakh crore. The actual collection (provisional) is Rs 14.60 lakh crore. The total collection has exceeded the RE and represents a growth of 17.6% compared to the last financial year. 

The indirect tax revenue (provisional) collections stood at Rs 7.11 lakh crore in 2015-16, up 31.1% from 4.90 lakh crore in 2014-15. It exceeded the BE and RE by Rs 65,618 crore and Rs 9,885 crore respectively.

Direct tax revenue collections (provisional) stand at Rs 7.48 lakh crore, up 7.48% from 6.91 lakh crore. This figure was slightly lower than the RE of Rs 7.52 lakh crore.