Why was the excise duty hiked?
Tax Revenue
2020-21 Budget: ₹16,35,909 Cr
Year to date Nov’20: ₹10,26,055 Cr
Year to date Nov’19: ₹11,74,143 Cr
Excise Duty (Part of Tax Revenue)
Year to date Nov’20: ₹1,96,342 Cr
Year to date Nov’19: ₹1,32,899 Cr
Tax Revenue
2020-21 Budget: ₹16,35,909 Cr
Year to date Nov’20: ₹10,26,055 Cr
Year to date Nov’19: ₹11,74,143 Cr
Excise Duty (Part of Tax Revenue)
Year to date Nov’20: ₹1,96,342 Cr
Year to date Nov’19: ₹1,32,899 Cr
Despite 48% Growth In Excise Duty Collection, Overall Tax Revenue is currently at -13% Growth Over Last year.
Revenue Expenditure
2020-21 Budget: ₹26,30,220 Cr
Year to date Nov’20: ₹16,65,200 Cr
Year to date Nov’19: ₹16,06,215 Cr
Revenue Expenditure
2020-21 Budget: ₹26,30,220 Cr
Year to date Nov’20: ₹16,65,200 Cr
Year to date Nov’19: ₹16,06,215 Cr
Despite -13% Reduction In Tax Revenue, Revenue Expenditure has increase by 4% over last year.
This shows government spending hasn’t reduced over last year.
Excise Duty was hiked to cover the Tax Revenue Deficit.
This shows government spending hasn’t reduced over last year.
Excise Duty was hiked to cover the Tax Revenue Deficit.
Revenue Deficit is due to Lockdown & subsequent slow down in economy because of Covid 19.
cga.nic.in/MonthlyReport/…
cga.nic.in/MonthlyReport/…
cga.nic.in/MonthlyReport/…
cga.nic.in/MonthlyReport/…
-13% Growth**
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