India's economy and public finances, from the official numbers
The Union Budget since 2000-01 and India's GDP from the national accounts, read straight from government documents and data services, and checked automatically.
Tax revenue growth vs growth of the economy
Gross tax revenue against nominal GDP, both on the year before. Taxes grew faster than the economy in 14 of 25 years.
- Gross tax revenue
- Nominal GDP
- Estimate (no actual yet)
Show as table
| Year | Gross tax revenue | Nominal GDP |
|---|---|---|
| 2001-02 | −0.8% | 8.2% (Back series) |
| 2002-03 | 15.6% | 7.7% (Back series) |
| 2003-04 | 17.6% | 12.0% (Back series) |
| 2004-05 | 19.9% | 14.1% (Back series) |
| 2005-06 | 20.1% | 14.0% (Back series) |
| 2006-07 | 29.3% | 17.1% (Back series) |
| 2007-08 | 25.3% | 15.1% (Back series) |
| 2008-09 | 2.0% | 12.6% (Back series) |
| 2009-10 | 3.2% | 15.5% (Back series) |
| 2010-11 | 27.0% | 19.9% (Back series) |
| 2011-12 | 12.1% | 14.4% (Back series) |
| 2012-13 | 16.5% | 13.8% (Additional revision) |
| 2013-14 | 9.9% | 12.9% (Additional revision) |
| 2014-15 | 9.3% | 10.9% (Third Revised Estimate) |
| 2015-16 | 16.9% | 10.4% (Third Revised Estimate) |
| 2016-17 | 17.9% | 11.8% (Third Revised Estimate) |
| 2017-18 | 11.8% | 11.0% (Third Revised Estimate) |
| 2018-19 | 8.4% | 10.5% (Third Revised Estimate) |
| 2019-20 | −3.4% | 6.3% (Third Revised Estimate) |
| 2020-21 | 0.8% | −1.2% (Third Revised Estimate) |
| 2021-22 | 33.7% | 18.8% (Second Revised Estimate) |
| 2022-23 | 12.7% | 13.9% (Final Estimate) |
| 2023-24 | 13.5% | 12.0% (First Revised Estimate) |
| 2024-25 | 9.5% | 9.7% (Provisional Estimate) |
| 2025-26 | 7.4% (RE) | 8.0% (First Advance Estimate) |
Gross tax revenue: Budget at a Glance and Receipt Budget (actuals; revised estimates where actuals are not out), growth worked out from the levels. Nominal GDP growth: MoSPI, 2011-12 base.
The Budget's GDP assumption vs what happened
Every budget ratio (deficit, debt, spending as % of GDP) rests on a forecast of nominal GDP. Blue: the economy came out bigger than the Budget assumed.
- Budget 2025-26+0.0%Budget ₹356.98 lakh crore → First Advance Estimate ₹357.14 lakh crore
- Budget 2024-25+1.3%Budget ₹326.37 lakh crore → Provisional Estimate ₹330.68 lakh crore
- Budget 2023-24−0.2%Budget ₹301.75 lakh crore → First Revised Estimate ₹301.23 lakh crore
- Budget 2022-23+4.2%Budget ₹258.00 lakh crore → Final Estimate ₹268.90 lakh crore
- Budget 2021-22+5.9%Budget ₹222.87 lakh crore → Second Revised Estimate ₹235.97 lakh crore
- Budget 2020-21−11.7%Budget ₹224.89 lakh crore → Third Revised Estimate ₹198.54 lakh crore
- Budget 2019-20−4.7%Budget ₹211.01 lakh crore → Third Revised Estimate ₹201.04 lakh crore
Budget at a Glance; MoSPI, 2011-12 base, latest estimate. All budgets, and the Economic Survey and RBI forecasts.
Union Budget
Every budget from 2000-01 to 2026-27: receipts, spending, deficits, taxes, ministries and some 1,400 schemes, with announced figures against what was spent.
Trends · Taxes · Ministries · Schemes
GDP
Growth since 1951-52, every revision of every estimate since 2011-12, forecasts against outcomes, sectors, spending and quarters, on both of MoSPI's series.