The Union Budget 2021-22 targets gross tax revenue of Rs 22.17 lakh cr in FY22........but I think India has potential more than Rs 32 lakh crore gross tax revenue FY22.
We know India's Tax-GDP ratio only 9.8%,it is lower than its potential. India’s Tax - GDP ratio low compared to other developed - developing countries or emerging markets.
India’s Tax - GDP ratio 9.8% should be 15% .....while Germany 38%, USA-china 18% ,Russia- Malaysia-vietnam 17%,Brazil 16%,Pakistan 15%, Sri Lanka 13% and Nepal 21%.
