 "StatsGuru-14-July-14")
The recently presented Union Budget has made some optimistic revenue and expenditure forecasts. As Table 1 shows, it expects that revenue receipts will increase slightly as a percentage of GDP, and total expenditure will decrease. In particular, as Table 2 shows, it expects a big revival in Plan expenditure, with 21 per cent growth year-on-year. It expects capital expenditure to grow similarly - as Table 3 shows, capital expenditure has been particularly volatile in the past few years.
Gross tax revenue is expected to grow 17.7 per cent, according to Table 4, the most since 2010-11. The big growth push to tax revenue will come, as Table 5 shows, from continued high growth in service tax. Direct taxes are projected to grow at 15.8 per cent, according to Table 6 - again optimistic, bettered since the crisis only by the stimulus year of 2010-11. But the really optimistic figure is indirect tax growth, as seen in Table 7.
Gross tax revenue is expected to grow 17.7 per cent, according to Table 4, the most since 2010-11. The big growth push to tax revenue will come, as Table 5 shows, from continued high growth in service tax. Direct taxes are projected to grow at 15.8 per cent, according to Table 6 - again optimistic, bettered since the crisis only by the stimulus year of 2010-11. But the really optimistic figure is indirect tax growth, as seen in Table 7.