With a high possibility of fiscal slippage, the Finance Ministry has drawn up a fresh strategy to boost tax collection during the remaining period of the current fiscal ending on March 31, 2020.
Data show that the net direct tax collection for the period from April to November was ₹5.56-lakh crore, as against ₹5.47-lakh crore during the last fiscal. The net GST collection (CGST+IGST+Compensation cess) was ₹3.98-lakh crore as against ₹5.82-lakh crore during last fiscal.
These figures are below expectations and there is a strong possibility that the fiscal deficit willwiden by at least 50 basis points more than the Budget Estimate of 3.3 per cent of GDP (Gross Domestic Product).
Setting targets
Esta historia es de la edición December 18, 2019 de The Hindu Business Line.
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