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India's Tax-to-GDP Ratio to Hit 13% in 3 Years: Finance Minister's Ambitious Target

The Express Tribune

The Finance Minister has announced an ambitious plan to increase the tax-to-GDP ratio to 13% within three years, exceeding the initial target of 13.5%. To achieve this goal, the government is focusing on digitalization and minimizing human intervention to enhance compliance and efficiency. This move is expected to boost economic growth and revenue collection, with the minister emphasizing the importance of structural reforms. The government's efforts towards digitalization and reduced human intervention are likely to improve tax compliance and overall economic efficiency, driving India's economic growth forward. Key initiatives include digital payment systems and online tax filing, set to increase tax revenue and reduce evasion.