Revenue target optimistic: Crisil

 The revenue projections in the Budget are highly optimistic and out of line with the historical patterns of tax buoyancy, according to an analysis by Crisil.

In its analysis of the Budget numbers, Crisil fears the expected growth rate of 24.64 per cent in tax revenues is an area of concern.

 The Budget plans to mop up additional tax revenues of Rs 62,800 crore, a large part of which is contingent on growth in corporate turnover and profits.  In the last eight years, the government has been able to meet or exceed its Budget estimates of tax revenues only twice, in 1996-97 and in 2003-04.  However, on both occasions, the corporate sector had reported a robust growth in sales and profits which bailed out the budget arithmetic.  A substantial contribution to this year