Govt misses tax collection target

The Central government has missed the overall revised tax collection target for both direct and indirect taxes by ₹2,288 crore in the financial year 2014-15. “Gross tax collections at ₹12,45,037 crore has shown a growth of 9 per cent (₹1,06,303 crore) compared with FY 2013-14. The gross tax collection is 9.8 per cent of GDP,” the Finance Ministry said in a statement today. The revised direct and indirect tax collection for last fiscal was ₹12,47,324 crore — indirect tax mop up at ₹5,42,325 crore and direct tax at ₹7,05,000 crore.