21% rise in gross tax collections in TN

The state govt expresses confidence in achieving the target of over Rs 56,000 cr this year

After registering a 21 per cent rise in gross revenue collections at around Rs 47,000 crore last year, the Tamil Nadu government expressed confidence in achieving the target of over Rs 56,000 crore this year.

Commercial taxes and registration minister B V Ramanaa said his department had mobilised gross revenue of Rs 47,885 crore in 2012-13 despite the general economic slowdown and a lean agricultural season. "As per this year's Budget estimate, the department will contribute Rs 56,025.24 crore in the state's own tax revenue of Rs 86,065.40 crore. This works out to slightly more than 65 per cent," he told the Assembly on Monday.