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Govts tax collections over 50% up this year
May, 18th 2010

The government seems to have started this fiscal on a firm footing. Its earnings from customs and excise collections are up big time.

They have risen more than 50 per cent in April, from a year ago. Although it sounds good, there are no surprises say economists.

Indian industry and trade are on a strong wicket. At least that's what the government's customs and excise collections are beginning to reflect.

Tax numbers accessed by NDTV for the month of April show a growth of 63 per cent in the indirect tax collections and the government has netted over Rs 17,000 crore in the first month of the fiscal in comparison to the same period last year.

Both customs and excise have done well with customs showing a spurt of 68 per cent at Rs 9513 crore and excise revenues have grown by a whopping 59 per cent to over Rs 8000 crore.

However, most economists are not very impressed saying although the indicator is important the numbers hold no surprise.

Also, Indian trade and industry have yet to feel the heat of the eurozone crisis.

So, while the year-on-year growth story is looking better, its the short term uncertainties, which could upset the balance, something which the government needs to watch out.

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