Personal Income Tax Collections Rise to 3.5% of GDP in FY24

Last updated: 13 March 2025

The Finance Ministry informed the Lok Sabha on Monday that personal income tax (PIT) collection as a percentage of GDP surged by 140 basis points in the last decade, reaching 3.5% in FY 2023-24, up from 2.1% in FY 2014-15. The data, presented by Minister of State for Finance Pankaj Chaudhary, also r

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