Government achieves the Tax Revenue Targets for FY 2015-16; Actual collections of Direct & Indirect Tax Revenues in FY 2015-16 is ₹ 14.60 Lakh Crore as against Revised Target (RE) of ₹ 14.55 Lakh crore

The aggregate Budget Estimates (BE) for total Direct and Indirect Tax Revenues for FY 2015-16 was ₹ 14.45 Lakh Crore which was revised to ₹ 14.55 Lakh Crore (RE). The actual collection (provisional) is ₹ 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 stand at ₹ 7.11 Lakh Crore and has exceeded the BE and RE by ₹ 65,618 Crore and ₹ 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 ₹ 7.48 Lakh crore which is only slightly lower than the RE of ₹ 7.52 Lakh Crore. This represents a growth of 7.61% over the receipts in 2014-15.