India's GDP growth may not see upward revision; revenue dept to miss tax target: Dipen Shah

Jan 07 2014, 16:41 IST
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'Revenue department is likely to miss its tax target for the current financial year as direct tax collections' 'Revenue department is likely to miss its tax target for the current financial year as direct tax collections'
SummaryContrary to perception, India's gross domestic product (GDP) growth might not see an upward revision from the 6.2 per cent for 2011-12 after data from the Annual Survey of Industries (ASI) are incorporated, if one goes by the calculations of a research wing of State Bank of India.

Contrary to perception, India's gross domestic product (GDP) growth might not see an upward revision from the 6.2 per cent for 2011-12 after data from the Annual Survey of Industries (ASI) are incorporated, if one goes by the calculations of a research wing of State Bank of India. Rather, the growth might come down to six per cent, said the latest copy of State Bank Ecowrap, brought out by the bank's economic research department. (BS)

The revenue department is likely to miss its tax target for the current financial year as direct tax collections, net of refunds, in April-December this year increased only by 12.5 per cent to ~4.15 trn , compared with ~3.7 trn in the nine-month period of last year. The Delhi High Court allowed CAG to conduct audit of five major private telecom companies, the auditor also moved a step closer to inspecting the accounts of Delhi's three private power distribution companies (discoms) and sought from the state government all available financial records of these firms.

By Dipen Shah, Head- Private Client Group Research, Kotak Securities

NOTE: The views expressed are those of the author.

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