India may miss tax collection target for 2019-20 by nearly Rs 2.5 trn: Garg

The government's tax collection is likely to fall short of its estimate by Rs 2.5 trillion or 1.2 per cent of GDP in 2019-20, former finance secretary Subhash Chandra Garg said on Sunday while calling for scrapping of dividend distribution tax.

Garg in a blog said that from the tax revenues perspective, 2019-20 is proving to be a dysfunctional year.

"Tax revenues to see shortfall of Rs 2.5 trillion (1.2 per cent of GDP). Time to junk DDT and reform personal income tax," he said.

The government had budgeted gross tax revenues of Rs 24.59 trillion.

"Setting aside Rs 8.09 trillion as the share