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Surge in Union Government Revenues
Indirect Tax Collection Leads Growth
The tax revenues of the union government have surged in the first half of 2015–16, growing much faster than budgeted. Indirect taxes led the rate of growth of tax revenue collections, while direct tax collections grew less than expected. Though higher revenue is welcome, indirect taxes are nonetheless regressive, and higher indirect tax revenue will only accentuate income inequalities in India.
The authors wish to thank S L Shetty for his help in the preparation of this note.
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