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Govt tones down direct tax growth target
December, 12th 2012
The government seems to have toned down its 14% growth target for direct taxes receipts this fiscal. The finance ministry on Thursday said net direct tax collection up to November 15 this fiscal rose to Rs 2.65 lakh crore, which is just 53% of the budgeted target for the whole year.
"It is expected that the total direct tax collection for 2012-13 financial year will exceed the collection for 2011-12," minister of state for finance S.S. Palanimanickam said in Rajya Sabha.
India had collected Rs 4.9 lakh crore as direct taxes last year and had estimated that receipts would go upto Rs 5.6 lakh crore this fiscal.
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