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Modi govt eyes spending cuts as GST hits tax collection

Tax receipts were about $7.8 billion in July, a little over half the monthly target

Reuters  |  New Delhi 

India could be forced to cut spending on key infrastructures such as railways and highways as lower-than-expected tax collections and sluggish growth have upset the government's budget calculations, two finance ministry officials said. Tax receipts were about $7.8 billion in July — a little over half the monthly target — mostly because millions of firms failed to comply with the new Goods and Services Tax (GST) system that harmonises all state and central sales taxes but is still a work in progress. The big worry is that economic growth, which slipped to a ...

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First Published: Mon, September 18 2017. 17:53 IST
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