Tax collection targets to be met: Pranab
08 Jul 2011
Amid apprehensions of slowdown affecting tax collection, finance minister Pranab Mukherjee today exuded confidence that the government would be able to meet the revenue targets for budget for 2011-12.
"The growth of revenues upto June is reasonably satisfactory. Therefore, I do not apprehend that there will be any slippage," Mukherjee told reporters, following his meeting with chief executive officers of public sector banks and other financial institutions.
According to the finance minister the government set targets on assumption of normal conditions.
However, he added, "there may be (slowdown in revenue collections) if there is a slow (economic) growth, if there are unprecedented happenings and events".
The centre is expecting a collection of over Rs9.32 lakh crore tax revenues this fiscal, about 24.98 per cent up from the previous year.
However, apprehensions continue over revenue collection, both on direct and indirect fronts, which could be impacted due to high global commodity prices and high inflation.
