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Last Update: Mon, May 21, 2012 7:36 AM IST (2:06 AM GMT)
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New Delhi: India's Finance Minister Pranab Mukherjee Wednesday expressed hope in meeting the budgeted Rs 3.92 trillion indirect tax collection target for the current financial year 2011-12 despite the economic slowdown.
“I am confident that the department (Central Board of Excise and Customs) would not spare any effort in meeting the target. In fact, already indications are there (of meeting Budget estimate),” Mukherjee said at an event.
“The indirect tax collection figure up to January 2012 indicates that there has been some gains over last year,” Mukherjee added.
India's indirect tax collection grew 15.27% on-year to Rs 3.17 trillion during the first ten months (April-January) of the current financial year against Rs 2.75 trillion in the same period a year ago, government data had reported.
Earlier Wednesday, Prime Minister's Economic Advisory Council Chairman C Rangarajan said that the country's economy will likely grow at 7.1% in the current fiscal, lower than the 8.4% growth clocked a year ago.
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The Ministry of Finance is an important ministry within the Government of India. It concerns itself with taxation, financial legislation, financial institutions, capital markets, Central governme ...
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Central Board of Excise and Customs is a statutory body constituted by the Government of India under the Department of Revenue under the Ministry of Finance. The organization formulates policy on ...
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