Tax collections below target

By Our Special Correspondent

NEW DELHI, FEB. 12. With total collections of all taxes - direct an indirect - during January 2001 rising by only 8.68 per cent, the overall revenue mobilisation during April-January 2000-01 has registered an increase of 13.54 per cent, substantially below the budget target of nearly 20 per cent revenue buoyancy.

According to figures made available by the Finance Ministry, total tax collections rose 13.54 per cent during the first 10 months of the current fiscal and stood at Rs. 142,310.50 crores against Rs. 125,336.87 crores during the corresponding period last year.

In this, direct tax collections touched Rs. 47,166.82 crores, a rise of 27.66 per cent, while indirect tax collections during the first ten months increased by 7.64 per cent to reach Rs. 95,143.33 crores.

Income tax collections stood at Rs. 22,463 crores against Rs 16,590.59 crores, an increase of 35.40 per cent.

During the same period, corporation tax collections reflected an increase of 23.62 per cent at Rs. 24,332.36 crores against Rs. 19,683.46 crores.

Figures for January 2001 alone show that total collections, both direct and indirect, amounted to Rs. 12,722.68 crores as compared to Rs. 11,707.04 crores during January 2000, a rise of 8.68 per cent.

Direct taxes during the month under review amounted to Rs. 2,480.80 crores against Rs. 2,338.45 crores during the corresponding month in 2000, a rise of 6.09 per cent.

In the case of indirect taxes, it stood at Rs. 10,241.88 crores against Rs. 9,368.59 crores, an increase of 9.32 per cent.

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Section  : Business
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