The road transport-related tax revenue in India has shown a mixed trend over the past years. Starting in 2013 with a value of 46.3 units, the revenue experienced an initial rise but then saw significant declines, with occasional minor rebounds. By 2023, the revenue stood at 29.42 units. The year-on-year variation indicates the most notable drops during 2015 and 2016. The compounded annual growth rate (CAGR) over the last five years was -1.71%, reflecting an overall decline. Forecasts suggest a continued downward trend with a forecasted 5-year CAGR of -1.65%, anticipating a 7.98% decrease by 2028.
Future trends to watch for:
- Policy changes that might affect road transport taxation.
- Advancements in electric and alternative fuel vehicles impacting tax structures.
- Economic factors influencing vehicle ownership and usage.
