For 15th Finance Commission, GST will usher in higher tax buoyancy by bringing in a large number of new tax payers into the net.
Corporate income tax has fallen from a peak of 3.88 percent of GDP in 2007-2008 to 3.19 percent in 2016-2017
Budget 2018: At Arun Jaitley's 5th pre-Budget talks, leading economists draw road map for major tax reform
At pre-Budget meet, Arun Jaitley said country was able to achieve these fiscal targets due to focus on expenditure rationalisation and plugging of loopholes in public expenditure
Bibek Debroy claimed revenue worth 5 percent of GDP is lost to exemptions and if these exemptions are eliminated, the tax-to-GDP ratio will be 22 percent
There are several impediments for the country to witness a ratings upgrade
The government's endeavour should be to increase tax-to-GDP ratio to a higher level; for that, tax net should be widened and evasion checked
Gujarat does not fare well on the metric of own tax revenues to GDP. But is this really a criticism of the Gujarat model of growth?