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Budget 2021: Tax buoyancy projected to be 1.2 in FY22
Tax buoyancy, which describes the sensitiveness of tax revenue growth to changes in nominal GDP, is expected to touch 1.2 in FY22, marginally lower than 1.3 in FY21 (both tax revenues and GDP are projected to decline)
Niti Kiran | February 1, 2021 | Updated 19:40 IST
Central government's gross tax collection missed its FY21 target by almost 22 per cent at Rs 19 lakh crore. More so, it has pegged earnings of Rs 22.2 lakh crore in FY22, much lower compared to the budget estimates of FY20 and FY21 - Rs 24.6 lakh crore and Rs 24.2 lakh crore, respectively. On that account, the collections are expected to move up by 16.7 per cent in the next fiscal (against the revised estimates of FY21). Given the nominal GDP growth of 14.4 projected in the Union Budget of 2020-21, the tax buoyancy will probably stand at 1.3.

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