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Budget 2023: Govt needs to worry about boosting its tax-to-GDP ratio, says Rathin Roy

India needs to tap the home-market demand to boost its medium-term growth back to above 8 percent, the former member of the Economic Advisory Council to the Prime Minister said.

January 23, 2023 / 09:56 AM IST
Rathin Roy, Managing Director, ODI

Rathin Roy, Managing Director, ODI

Amid a big surge in tax collections this fiscal, Rathin Roy, a former member of the Economic Advisory Council to the Prime Minister has said that the government should be worried about why India’s tax-to-GDP ratio cannot be increased further.

“The government should focus on why it cannot collect more taxes than it does,” Roy, who is the Managing Director of the global think-tank ODI, told Moneycontrol in an interview. “I think the government needs to worry about why the tax-to-GDP ratio cannot be further increased.”

As part of the upcoming Budget, the economist would like to know the government’s aspirational tax-to-GDP ratio for 2025.

Finance Minister Nirmala Sitharaman will present the Budget on February 1, which will be the last full one of the government before the general elections next year.