Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Govt tones down direct tax growth target

Nov 22 2012, 21:48 IST
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SummaryNet direct tax collection up to November 15 this fiscal rose to Rs 2.65 lakh crore.

The government seems to have toned down its 14% growth target for direct taxes receipts this fiscal. The finance ministry on Thursday said net direct tax collection up to November 15 this fiscal rose to Rs 2.65 lakh crore, which is just 53% of the budgeted target for the whole year.

"It is expected that the total direct tax collection for 2012-13 financial year will exceed the collection for 2011-12," minister of state for finance S.S. Palanimanickam said in Rajya Sabha.

India had collected Rs 4.9 lakh crore as direct taxes last year and had estimated that receipts would go upto Rs 5.6 lakh crore this fiscal. (Ends)

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