1. For the current year FY15, the original projected Tax Revenue was Rs. 977258 Crores. But the revised revenue is set at Rs. 908463 Crores. This amounts to a whopping 43% Revenue shortfall over the budgeted Revenue Growth. If the GDP had grown at 7.4% above the original prediction as per released statistics of CSO , can the Finance Minister explain why then there is a shortfall Rs 69,403 crores in tax revenue, which 7.1% lower than projected Tax Revenue of Rs 9,77,258 Crores?
2. For the next Fiscal FY16, FM projects the GDP will grow at 8% range. If he truly believed it, why then he projected only 1.2% revenue growth ie. Rs. 919842 Crores against this year's Rs 908463 Crores? Can any Economist explain this. When GDP growth is 8% in a developing country, Govt Tax Revenue will grow only 1.2%? This sounds really weird.
3. The above two items are of paramount important in any nation's Budget. If we are missing explanation for this ambiguity, how much can one believe the rest of the budget documents?
2. For the next Fiscal FY16, FM projects the GDP will grow at 8% range. If he truly believed it, why then he projected only 1.2% revenue growth ie. Rs. 919842 Crores against this year's Rs 908463 Crores? Can any Economist explain this. When GDP growth is 8% in a developing country, Govt Tax Revenue will grow only 1.2%? This sounds really weird.
3. The above two items are of paramount important in any nation's Budget. If we are missing explanation for this ambiguity, how much can one believe the rest of the budget documents?
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