Net Direct Tax Mopup At 55.4% Of Target

Net direct tax collections of the Centre till January this fiscal have reached only Rs 47, 287 crore, which is just 55.4 per cent of the budget target of Rs 85, 275 crore and Rs 120 crore more than last year.

The figures indicate that even after accounting for the final instalment of corporate tax which companies pay in March, the Centre may not be able to cross 80 per cent of the budget estimate for direct tax collections.

The dismal performance of direct tax collections is also in line with the trend in indirect tax collections. Excise tax has shown a 4 per cent growth in the same period, while customs duties are down by 10 per cent from last year