(a) whether the Government has assessed the effect of slowdown on tax collection and fiscal deficit;
(b) if so, the details and the findings thereof;
(c) the manner in which the shortfall will be compensated for;
(d) whether it is true that the estimated shortfall will be in the range of $2 million; and
(e) if so, the details thereof?
MINSTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI ANURAG SINGH THAKUR)
(a) to (e): The revised estimates of tax collection and fiscal deficit are decided at the time of preparation of the budget estimates for the next year. The exercise for preparation of budget estimate for 2020-21 and revised estimates for 2019-20 is underway. At this stage, it may be pre-mature to assess the Revised Estimate against the Budget Estimate for FY 2019-20 with respect to taxes. The expected central taxes revenue for 2019-20 will be re-assessed and presented as Revised Estimate in the general budget, 2020-21.
The Budget Estimate for taxes and corresponding actual collection upto September 2019 for the current financial year and the corresponding period of the previous year, as per the Review of the Union Government Accounts for the month of September 2019 is as follows:
(Rs. in Crore)
Particulars B.E 2019-20 Upto Sep 2019 Upto Sep 2018
Total Direct Taxes 1335000 467369 444440
GST 666111 281824 289878
Customs 155904 71838 64456
Union Excise Duty 300000 95930 100590
Service Tax 0 642 4707
Total Indirect Taxes 1122015 450234 459631
Other Taxes 4180 1867 1728
Total (Gross Tax Revenue) 2461195 919470 905799
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