Cheap oil is still supporting the fisc, but impact is fading elsewhere2 min read . Updated: 12 Jul 2016, 04:20 PM IST
Cheaper oil fetched robust tax revenues throughout 2015, besides enlarging producers' margins and real incomes of consumers
Tax revenues collected in April-June yet again demonstrate how India gains from global economic troubles. The buoyant indirect tax revenues, which grew by 30.8%, against a 36.3% increase in the same period last year, primarily reflect higher tax rates on petroleum as the entire oil price decreases have not been passed to the consumer. According to government data, subtracting the effect of these higher rates, revenues show a more modest growth of 10.2%.
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