The government was likely to revise revenue collection targets upwards for the current financial year, a top government official said.
“We are likely to make modest advancements in the targets, as we have entered the third quarter. We will wait for a few days and then take a decision,” Revenue Secretary Sunil Mitra said here.
Mitra, who was in the city yesterday to attend a meeting of revenue officials of the eastern zone with Finance Minister Pranab Mukherjee, said direct tax collection achieved so far was 69 per cent and indirect tax collection at 67 per cent of the target.
“We are hopeful of meeting the targets,” Mitra said.
Against a target of Rs 4,30,000 crore for direct tax collection, revenue collected so far stands at Rs 2,96,121 crore.
For indirect taxes, it was Rs 1,98,540 crore, against the target of Rs 3,15,000 crore.
Central Board of Excise & Customs Chairman Sumit Dutt Majumdar said there had been good growth in Customs revenue collection.
Customs revenue was growing at 67 per cent, he said.
Majumdar said this reflected the pick-up in manufacturing activity, which had been a result of stimulus packages.
He said good Customs growth meant that imports were taking place substantially.
Majumdar said central excise was growing annually at 34 per cent and service tax at 18 per cent.
CBDT Member M C Joshi said direct tax was growing at 18-20 per cent annually.
