Authors : Devasia M D, Devasia M D, N Karunakaran, N Karunakaran
DOI : 10.18231/j.jmra.2020.040
Volume : 7
Issue : 4
Year : 2020
Page No : 172-182
Public revenue is a major component of budget shows the manner in which revenue is collected during a financial year by government to boost economic growth. The success of government plan for the growth and development of a country depends on the source and size of public revenue. In India Public revenue acts as government’s most important economic and fiscal policy tool in controlling money supply and maintaining general price level. It is not only important for the corporate but for individuals from all sections of the society as they look forward to tax exemptions and reliefs. Even though India ranks third in purchasing power parity, only a few percentages of population pay income tax. The government's effort to widen the tax base has resulted in an 80 percent jump in number of IT returns filed. The analysis revealed that Public Revenue and macroeconomic indicators are significantly interlinked and correlated. Tax buoyancy is an indicator to measure efficiency to growth in GDP and Gross tax buoyancy coefficient remained fluctuating during the period 1990-91 to 2016-17.
Keywords: Budget, Revenue, Capital, Tax, GDP, Trend, Effect