Discover the company that has the greatest economic impact on the country and its significant contribution to government revenue
The wealthy families of the country are plundering the central government. They have accumulated a substantial amount of wealth in the government coffers. During the financial year 2022-23, the central government earned significant revenue through taxes. Indian industries contributed heavily to the government’s revenue in the previous fiscal year. The BSE 500 companies alone have deposited around ₹3.60 lakh crore in the treasury. Undoubtedly, the Tata Group is at the forefront, with several other affluent families also making contributions.
According to reports, the country’s top 500 listed companies have made monetary contributions. 3.64 lakh crore have been collected in total.
In the financial year 2021-22, these companies contributed ₹3.41 lakh crore. The amount of taxes collected has increased by 7% from the prior year. It is obvious that the corporate tax has contributed significantly to the federal government’s revenue.
Before Tata, public sector enterprises:
The government used to collect the highest amount of taxes from public sector enterprises. In the financial year 2022-23, a total of ₹1.08 lakh crore was collected from all listed public sector companies. The Tata Group dominates the private sector. The Tata Group contributed more than ₹30,000 crore to the government treasury in the previous fiscal year. The BSE 500 Index includes a total of 17 Tata Group companies.
Mukesh Ambani’s company is considered the richest person in India. In the previous financial year, Reliance Group’s companies paid ₹20,730 crore in taxes. Now, due to the merger, HDFC has reached ₹20,300 crore. ICICI Group holds the fifth position. This bank contributed ₹12,800 crore. HDFC and ICICI have four companies each listed in the stock market.
Bajaj Group’s companies paid ₹10,554 crore in taxes in the previous fiscal year. The BSE 500 includes a total of 6 companies from this group. Bajaj Group ranks sixth in terms of tax payment. Anil Agarwal’s Vedanta Group holds the seventh position. The group paid ₹10,547 crore in taxes. Vedanta has two companies listed in the BSE 500 Index.