Tax collection in India one of the highest, reduce direct tax to 25 pc from 40 pc: Surjit Bhalla

“We are a much more globalised economy in the world and the world is a lot more globalised. If you look at the overall tax rate structure in India, collection of taxes is one of the highest in the world and we are not the richest economy of the world,” Bhalla said. He said that tax collection by state, Centre and local bodies is around 19 per cent of India’s GDP.

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