The Hindu Business Line : Ministry hopeful of meeting tax targets

THE Finance Ministry is hopeful of meeting the budgeted tax collection targets for the current fiscal year, the Minister of State for Finance, Mr G.N. Ramachandran, said here today. He said that harsh action would have to be taken on tax evaders and promised "due respect" to honest taxpayers.

At an awards ceremony, Mr Ramachandran said direct tax collections were up by 17 per cent at Rs 55,193 crore till January 2003, mainly after the restructuring of the department and revival of the economy.

"Special attention has been given in respect of refunds," he said, adding that 25 lakh cases involving Rs 18,063 crore refunds were made till January 2003 this fiscal.

On the indirect tax front, he said customs collection were up by 12 per cent at Rs 37,092 crore while excise collections grew by 17 per cent at Rs 65,138 crore.

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