India revisits 2026-27 tax target of ₹44L/cr amid global tensions
Business
India is taking another look at its tax targets for 2026-27 because of global tensions and rising oil prices.
The original plan was to collect ₹44 lakh crore in taxes, but with the world economy feeling shaky, those numbers might not hold up.
Corporate tax collections may miss ₹61,000cr
Corporate tax collections could fall short by ₹61,000 crore if oil prices stay high, putting pressure on the budget.
Slower hiring and weak wage growth are also making it harder to meet personal income tax goals.
On the flip side, while inflation might help indirect taxes a bit, GST and customs revenues are looking uncertain due to trade slowdowns and higher costs.
The government's keeping a close eye as it figures out its next move.