New Delhi: The government's tax collections have risen to Rs4,70,077 crore, exceeding the revised revenue estimates for 2006-07 by about Rs5,000 crore, thanks to high economic growth and partial revamping of tax administration.
Finance Minister P Chidambaram said while releasing tax collection figures on Saturday. that as against Rs2,29,533 crore budgeted estimates for indirect collections, and revised estimates of Rs2,36,202 crore, the actual collections including customs, central excise and service taxes reached Rs2,40,896 crore in 2006-07.
Personal income tax collections touched Rs85,620 crore and corporate tax Rs1,43,561 crore for the same period.
The finance minister said the actual direct tax collections turned out be to Rs2,29,181 crore as against the revised estimate of Rs2,29,007 crore.
Customs tax collections of Rs86,294 crore also exceeded both budgeted as well as revised estimates of Rs77,066 crore and Rs81,800 crore respectively.
Revised estimates of Central excise collections, which were lowered from Rs1,17,967 crore to Rs1,16,233 crore, were also surpassed as figures touched Rs1,17,250 crore for 2006-07.
Service tax collections of Rs37,352 crore were, however, lower by Rs817 crore as against the revised estimates of Rs38,169 crore for the fiscal.