The government has budgeted for a 11% increase in total taxes with corporation tax rising by 14% and personal income tax rising by 7.56% in the budget for fiscal 2019-20.
On the indirect tax front, the government has budgeted for a 3% increase in GST collection, for FY2018-19. Union Excise duty is budgeted to increase 16% and Customs duty is budgeted to grow by 20%.
On the Non-Tax Revenue front, dividends from RBI and PSU’s has been budgeted for a 37% increase. Spectrum is budgeted to remain flat.
Disinvestment target for 2019-20 is budgeted at Rs 1050 billion, a growth of 31.50%. Total non-tax revenues is budgeted to grow by 34%.