The government will not need to go in for any additional tranche of market borrowing soon as the tax revenues have perked up.
Finance ministry officials said that the government now has a breather after the last twin series of market borrowings of Rs 11,000 crore on September 11 that pushed up its total borrowing to Rs 86,000 crore for the current fiscal, as tax collections riding on the advance tax collections have begun to rise.
They said that up to the end of August the total tax collections have touched Rs 52,851 crore. Of this, indirect tax collections have reached Rs 40,528 crore and the rest Rs 12,323 is direct tax collection.
Of the total indirect tax collections, customs duties till August 31 was Rs 16,238 crore and excise duties was Rs 22,671 crore. The break-up for direct tax is Rs 2,688 crore for corporation tax and Rs 9,468 crore for income tax. But the collections are far short of last year
