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Sitharaman says tax targets achievable, GST collections could rise: Report

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

Reuters  |  Bengaluru 

Finance Minister Nirmala Sitharaman Photo- Sanjay K.Sharma
Finance Minister Nirmala Sitharaman Photo- Sanjay K.Sharma

India has given itself achievable targets for its tax collections, Finance Minister said in an interview to 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.

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 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.)

First Published: Fri, July 12 2019. 11:21 IST
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