 "Sitharaman says tax targets achievable, GST collections could rise: Report")
India has given itself achievable targets for its tax collections, Finance Minister Nirmala Sitharaman said in an interview to news daily Hindustan Times, adding that goods and services tax (GST) collections could "absolutely" move higher.
India expects to rake in Rs 24.6 trillion ($358.97 billion) in gross tax revenue in 2019/20. Sitharaman, in her maiden budget last week, raised taxes on the super rich and gold imports in a bid to revive sagging growth.
GST collections fell below Rs 1 trillion ($14.59 billion) for the first time in the current fiscal year in June, projecting weak consumer demand.
"Everyone who thinks we have set stiff targets is probably only looking at GST collections, which slowed down during the elections, for whatever reason," Sitharaman told Hindustan Times.
"I think we have given ourselves absolutely achievable targets, and after taking everyone on board."
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app