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Budget 2019: Govt Expected to Earn ₹25,000 cr from Increase in Taxes
July 08, 2019
In the financial year 2019-20, the government may earn ₹25,000 crores as the taxes on various products and services have been hiked. These include an increase in customs and excise duty on products like cigarettes and a higher surcharge on the super-rich who have a taxable income ranging from ₹2-5 cr and ₹5 cr and above.
According to the government’s estimates, the exchequer will collect additional ₹12,000 this financial year on the back of increased surcharge on the rich alone.
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