With a big reform such as GST, you need to be flexible: Revenue Secretary

So we had to revise estimate downward, to show a realistic picture, said Revenue Secretary Ajay Bhushan Pandey

The revenue estimation in the interim budget has some peculiar features. Despite a huge revenue shortfall in goods and services tax (GST) collection in its first full year of implementation, the interim budget expects a jump in the coming financial year. On the direct taxes front, a higher-than-expected revenue is expected from companies. While excise revenue is kept unchanged, customs duties are expected to help the government. Revenue Secretary Ajay Bhushan Pandey tells Abhishek Waghmare that it is important to understand the reasons behind these trends. Edited excerpts from the interaction:

The government is expecting a 14 per cent growth