IMF raises doubts about India's tax revenue estimates, GDP growth target

Gross actual (direct plus indirect) tax collection in 2018-19 fell short by Rs 1.7 trillion, or 7.5 per cent of the revised estimates for the year

The International Monetary Fund (IMF) has posed questions for policymakers in India over steep tax revenue collection estimates for 2019-20 and the bottlenecks in the goods and services tax (GST) regime.

Working on the country’s annual economic surveillance or assessment report, the Washington-based multilateral institution has asked India to explain how it is confident of meeting its revenue estimates for the year, given the current state of economic growth and historical buoyancy.

Despite a cut in tax projections for the year in the July Budget over what was given in the Interim Budget due to lower than expected realisations in