Menu
Search

Revenue Collection Expected To Exceed Target In FY15: FM

Monday, July 21, 2014
25
Separator
21
Separator
57
Separator
8
Separator
Print Print Email Email

BANGALORE: After missing target in the last financial year, the government exuded confidence that tax collection during the current fiscal would exceed budget estimate of Rs 13.64 lakh crore. "Revenue collection targets fixed for 2014-15 will not only be achieved but also surpassed," Finance Minister Arun Jaitley said.

He was addressing the 30th annual conference of Principle Chief Commissioners, Principle Director Generals (DGs), Chief Commissioners & DGs of Income Tax Department here. Jaitley emphasised that the credibility of Income Tax department is its greatest asset. "Credibility of income tax department is its greatest asset, that's why highest standards of ethics are expected from officers of the department," PIB said in a tweet.

The government estimates to garner Rs 13.64 lakh crore from both direct and indirect tax collection during the current fiscal. During 2013-14, tax collection fell short of target by a whopping Rs 77,000 crore. The government collected Rs 11.58 lakh crore against the budget estimate of Rs 12.35 lakh crore. There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy. On income tax front, however, there is possibility of surpassing target.

Last week, Revenue Secretary Shaktikanta Das had said that the government would be able to achieve the direct tax collection target but the real challenge is with regards to indirect taxes. "It is a challenge, there is no doubt about that, but with a number of steps taken by the government to revive the economy, particularly manufacturing, reviving investment sentiment... we expect manufacturing sector, the entire industrial sector to get back in buoyant note than previous year," he said.

READ MORE: Sensex Surges 174 Points in Early Trade On Corporate Earnings

Men Bigger Secret Spenders Than Women: Survey

 


Source: PTI
Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
Sign Up for DailyDose and Read the Day's Highlights
Email:
Social Media