CAG Report Highlights Increase in Tax and Non-Tax Revenues
A report by the Comptroller and Auditor General of India (CAG) indicates that there has been an increase in both the tax revenue and non-tax revenue collections for the government.
Key Findings of the Report
- Rise in Tax Revenue: The growth in tax revenue is attributed to various factors, including improved compliance following the Goods and Services Tax (GST) rationalization and enhanced audit/enforcement efforts by tax departments.
- Boost in Non-Tax Revenue: Non-tax revenue, which includes income from sources other than taxes (such as dividends from public sector undertakings, fees, user charges, and interest receipts), has also shown a positive trend.
- Fiscal Health Indicator: The overall increase in both revenue streams suggests an improvement in the government’s financial management and provides a positive indicator of the government’s fiscal health and capacity to fund public expenditure and economic initiatives.
Source :- New Indian Express