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India aims to up tax target, phase exemptions-finmin
August, 12th 2009

India will aim at a higher direct tax receipts target of 4 trillion rupees ($83 billion) from the budget estimate of 3.7 trillion rupees in the year to March 2010, the finance minister said on Tuesday.

He told tax officials at a conference that tax rates should remain moderate and exemptions should be gradually phased out.

'Given the likely impact on government finances due to unanticipated drought, I will like to suggest a further upward revision in the direct tax collection target,' he said.

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