| A small fiscal deficit-to-GDP ratio is acceptable, but it has risen sharply over past few years when global recession hit the Indian economy. The overall tax revenue collection in the past two decades has increased. And it played an important role in reduction of fiscal deficit of central government. The growth rate of Indian economy is also an important factor in generating revenue or in controlling fiscal deficit. Recently, government has expressed more faith on tax revenue to control fiscal deficit .In this context, an attempt is made in the paper to know the role of tax revenue collection to control fiscal deficit of central government in the past two decade. |