India Needs to Push Up Tax-GDP Ratio: Economic Survey

New Delhi: India needs to increase its tax-GDP ratio, and spend more on health and education, the Economic Survey 2015-16 said on Friday. The country's tax to GDP ratio is at 16.6 per cent and is well below the emerging market economy (EME) and OECD (Organization of Petroleum Exporting Countries) averages of about 21 per cent and 34 per cent respectively. "India's overall tax to GDP is about 5.4 percentage points less than that of ...