Government has estimated the gross tax revenue to increase by 8 percent to more than Rs 44.04 lakh crore in the financial year 2026-27. Personal income tax collection is estimated to increase by 11.73 percent to Rs 14.66 lakh crore in the financial year 2026-27, while the revised estimate for the financial year 2025-26 was Rs 13.12 lakh crore. Corporate tax collection is estimated to increase by 11 percent to Rs 12.31 lakh crore in the financial year 2026-27, whereas it was Rs 11.09 lakh crore in the last financial year. Securities Transaction Tax (STT) collection is estimated at Rs 73,700 crore, higher than the Revised Estimate (RE) of Rs 63,670 crore for FY 2025-26.
Direct tax collection can be of Rs 26.97 lakh crore
The government estimates that the total direct tax collection including personal income tax and corporate tax collection may be Rs 26.97 lakh crore in the financial year 2026-27. Revenue Secretary Arvind Srivastava said that the tax jump for direct tax in the financial year 2026-27 is estimated to be 1.14. Srivastava said that if we talk about indirect taxes, the collection from custom duty is estimated to be Rs 2.71 lakh crore and from excise duty is Rs 3.89 lakh crore, while the collection from Goods and Services Tax i.e. GST is estimated to be reduced by 2.59 percent to Rs 10.19 lakh crore in the financial year 2026-27. Whereas, in the last financial year this figure was Rs 10.46 lakh crore.
The rate of tax increase will be faster than the growth rate of the economy
Finance Minister Nirmala Sitharaman said, “We hope that with all these reforms, the rate of tax increase will be faster than the growth rate of the economy. Therefore, we are hopeful that the tax revenue of the economy will remain sufficiently strong in the coming year.” Let us tell you that on Sunday, February 1, Nirmala Sitharaman presented the country’s general budget for the financial year 2026-27, in which there is a provision of Rs 53.5 lakh crore. This was the 9th consecutive budget of Nirmala Sitharaman, which was presented on Sunday.
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