Government forgoes Rs 17.15 lakh cr revenue in last 3 years

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New Delhi, July 19 (IANS) The government has forgone total revenue of Rs 17.15 lakh crore in the last three financial years, Minister of State for Finace Santosh Kumar Gangwar said here on Tuesday.

In 2013-14, Rs 93,047 crore direct taxes were forgone; Rs 1,18,593 crore direct taxes were forgone in 2014-15; and Rs 1,28,639 crore direct taxes were forgone in 2015-16, Gangwar said in a written reply to the Rajya Sabha.

In indirect taxes, Rs 4,56,937 crore was forgone in 2013-14; Rs 4,35,756 crore in 2014-15; and Rs 4,82,489 crore in 2015-16, he said.

The allocation of food subsidy in budget estimates in 2016-17 is Rs 1,30,334.61 crore out of which Rs 57,333.65 crore has been released so far, he added.

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