MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANANDRAO V. ADSUL)
(a) & (b) Targets set for collection of Direct
Taxes and achievements during April-June 2003
are as follows:
(In crores)
Targets Achievements
Income Tax Rs.7342 Rs.5912.87
Corporation Tax Rs.7725 Rs 3159.39
However,no month wise targets are set for collection
of Indirect Taxes. The budget estimates are the
only targets fixed for the whole of the financial year.
(c) & (d) Fiscal deficit has increased due to
increase in plan and non-plan expenditure outpacing
the increase in revenue receipts and non-debt capital
receipts.
(e) The Government has been following a strategy of
fiscal rectitude, which aims at higher tax revenue,
improved non tax receipts and moderation in the growth
of non-plan expenditure, so as to reduce the deficit.
