The Government’s net tax revenues grew 5 per cent in the fiscal year ended March 31, 2021, Finance Minister Nirmala Sitharaman said on Monday.
The net tax (sum of direct and indirect taxes) revenue in 2020-21 was over `14.24 lakh crore, a nearly 5 per cent growth from `13.56 lakh crore in the previous financial year. In a written reply to the Lok Sabha, Sitharaman said the Government has taken many steps to boost both direct and indirect tax revenue collection, through curbing tax evasion, widening/deepening tax base, promoting voluntary compliance, reducing litigation and promoting digital transactions.However, non-tax revenue collection dipped 36 per cent to `2.08 lakh crore in 2020-21 from over `3.27 lakh crore in 2019-20.The government’s net revenue (tax+non-tax) collection in the last financial year declined 3.09 per cent to `16.32 lakh crore.