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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AIITA welcomes Karnataka’s ban on obscene songs in school events
Bhatkal: The Karnataka unit of the All India Ideal Teachers Association (AIITA) has welcomed the Karnataka government’s decision to strictly ban school children from dancing to obscene songs during educational and cultural programmes in government, aided, and private schools across the state.
AIITA Karnataka State President M. R. Manvi congratulated the government for taking what he termed an important step to preserve the sanctity of education.
“Such decisions to safeguard the dignity of school children and uphold the values of education are the need of the hour. This rule should not be limited to government schools alone but must be strictly implemented in all private educational institutions as well,” he said.
He further urged the government to address other concerns within school programmes.
“The government should not only prohibit obscene dances in the name of school anniversaries, but also ensure that plays and dialogues that incite religious hatred are avoided. Schools should be centres of harmony, not platforms for spreading hatred,” he added.
According to a recent circular issued by the Department of School Education and Literacy, obscene dances are adversely affecting the mental health and moral values of students.
In this regard, schools have been advised to use songs that promote nationalism, positive thinking, the greatness of Kannada culture, and value-based traditions instead of inappropriate content during programmes.
The circular also emphasises that students should be dressed in decent attire.
AIITA also backed the department’s warning that disciplinary action would be taken against head teachers if such guidelines are violated. The association has further demanded that district Deputy Directors of Public Instruction strictly monitor the implementation of these rules.
