Ramaswami: DECODING THE DESTRUCTIVE SLOWDOWN Due to neglect, mismanagement and perversion of priorities, the BJP government created a slump in the Indian economy. This has led to a massive dip in the government’s revenue. Gross tax revenue fell by Rs 2.98 lakh crore in a single year, a decline of over 12 per cent over the target kept in budget last year. Revenue from customs and excise duties fell by Rs 30.9 thousand crore and Rs 51.99 thousand crore respectively. That’s a staggering dip of nearly 20 per cent for customs and over 17 per cent for excise duties. The GST collections fell by Rs 51 thousand crore, an 8 per cent decline.