Tax Revenues Exceeded Budget Estimates By Rs 5 Lakh Crore In 2021-22

Tax revenues in 2021-22 exceeded Union Budget's estimates by Rs 5 lakh crore

Tax revenues in 2021-22 exceeded Union Budget's estimates by Rs 5 lakh crore, Revenue Secretary Tarun Bajaj said on Friday.

Against the Union Budget estimates of Rs 22.17 lakh crore, the revenue collections as per the pre-actual figures was Rs 27.07 lakh crore, almost Rs 5 lakh crore above the budget estimates, Mr Bajaj informed media persons. 

The tax revenue in the Union Budget for 2021-22 was estimated at Rs 22.17 lakh crore against the revised estimates of Rs 19 lakh crore, with a growth of 17 per cent.

The Union Budget for 2021-22 was presented on February 1, 2021 when the first Coronavirus wave had tapered off in India, but the world was facing successive waves.