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Replying to the debate on the Finance Bill, the minister told the Lok Sabha that corporate tax collections stood at Rs 7.3 lakh crore so far this fiscal. Besides, Sitharaman pointed out that the Central government did not increase taxes last year or this year. She cited that 32 countries like Germany, France, Canada, UK among others increased taxes.

An estimation of decadal tax buoyancy (total tax revenue and other individual tax revenues) using double log model reveals that tax buoyancy of total tax revenue and income tax and corporation tax has declined in the current decade (2010-11 to 2019-20) compared to the last decade (2000-01 to 2009-10), the SBI said in a research report.