Gross tax revenues projected to grow 8 pc to Rs 44.04 lakh cr in FY27
New Delhi (PTI): The government estimates an 8 per cent growth in gross tax revenues at over Rs 44.04 lakh crore in the 2026-27 fiscal.
The personal income tax collection is expected to grow at 11.73 per cent to Rs 14.66 lakh crore in FY27 over revised estimates of Rs 13.12 lakh crore in FY26.
Corporate Tax collection is projected to rise 11 per cent to Rs 12.31 lakh crore in FY27 from Rs 11.09 lakh crore a year ago.
Securities Transaction Tax (STT) collection has been estimated at Rs 73,700 crore, up from Rs 63,670 crore in RE of FY26.
The total direct tax collection, including PIT and CIT, is projected at Rs 26.97 lakh crore for the 2026-27 fiscal.
Revenue Secretary Arvind Shrivastava said the tax buoyancy for the direct tax in FY27 would be 1.14.
On the indirect taxes front, Rs 2.71 lakh crore is estimated to come from Customs, while Rs 3.89 lakh crore from excise duty. GST collection is projected at Rs 10.19 lakh crore in FY27, 2.59 per cent lower than 10.46 lakh crore in FY26.
Finance Minister Nirmala Sitharaman said, "We expect that with all these reforms, the tax growth would be growing at a rate faster than that of the economy itself".
So, we do expect economy tax revenue to be sufficiently buoyant in the coming year, she said.
The government has estimated a nominal GDP growth of 10 per cent while preparing the Budget for 2026-27.
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West Bengal CM Mamata Banerjee moves SC against SIR
New Delhi (PTI): West Bengal Chief Minister Mamata Banerjee has filed a petition in the Supreme Court against the ongoing Special Intensive Revision (SIR) of the electoral rolls in the state, sources said on Sunday.
The petition names the Election Commission (EC) and the chief electoral officer of West Bengal as respondents. It was filed before the apex court on January 28, the sources said.
Banerjee arrived in Delhi on Sunday. She is scheduled to meet Chief Election Commissioner (CEC) Gyanesh Kumar at 4 pm on Monday to discuss the ongoing SIR exercise in West Bengal. The Trinamool Congress (TMC) supremo would be accompanied by a delegation of party leaders.
She is also likely to meet party MPs in the Parliament House on Monday.
Talking to reporters at the Kolkata airport before leaving for the national capital, Banerjee claimed that the ruling Bharatiya Janata Party (BJP) at the Centre is resorting to the SIR exercise because it is certain of its imminent defeat in the West Bengal Assembly polls, due in a few months, and said the saffron party should contest the election politically and democratically.
The West Bengal chief minister has written several letters to the CEC, raising concerns over the conduct of the exercise.
In her most recent letter to the CEC on January 31, she alleged that the methodology and approach of the exercise went beyond the provisions of the Representation of the People Act and the relevant rules, causing "immense inconvenience and agony" to citizens.
Earlier, TMC leaders, including Rajya Sabha MPs Derek O'Brien and Dola Sen, had moved the apex court, challenging certain aspects of how the SIR is being carried out in West Bengal.
