EconomyGovernment
Is tax revenue on track?
Net tax revenue, what the Centre keeps after the states' share, was 3.4% higher than a year earlier. To reach the budget, it must grow 11.9% over the rest of the year; the budget assumed 9.3% for the year as a whole.
Written for readers following the Union budget through the year. Accounts to Aug 2026.
How much of the year's tax has come in?
By the end of Aug 2026, net tax revenue had reached 29.2% of its budget, against 28.6% a year earlier and a median of 28.2% in the previous 10 years.
Net tax revenue through FY27, as a share of the year's estimate
Year to date, % of the estimate. Net of the states' share.
How to read it. Advance tax instalments in June, September, December and March produce steps; compare a month with the same month in past years, not with a straight line.
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Is tax revenue growing faster or slower?
Over the twelve months to Aug 2026, net tax revenue was 8.8% higher than in the twelve months before.
Growth of twelve-month receipts
Twelve months to each month, against the twelve months before, %.
How to read it. Twelve-month sums smooth the instalment steps. Revenue receipts add dividends from the RBI and public companies, which can swing a year on their own.
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Which taxes carry the Centre?
In FY25, corporation tax was 26.0% of the Centre's gross tax, income tax 31.2%, the Centre's GST 23.2%, excise 7.9% and customs 6.1%.
The Centre's gross tax by head
Share of gross tax collected, before the states' share, by financial year from FY15.
How to read it. GST replaced service tax and most excise from July 2017; service tax, the GST compensation cess, securities transaction tax and smaller taxes are grouped. Gross tax includes the part the Centre passes on to the states.
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How much tax does the Centre keep, against the size of the economy?
In FY26 the Centre's net tax revenue was 7.6% of GDP, ₹26.2 lakh cr.
Net tax revenue as a share of GDP
Financial years, %. Two GDP bases, shown side by side.
How to read it. The newer GDP base puts the economy at a different size, so the same tax gives a different share; the two lines are not joined.
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The workings
The question
Data
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