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Tax mop-up down 2.4 pc

Our Bureau

NEW DELHI, Jan. 10

WITH a steep drop in customs collections and corporate tax revenues, the Centre's tax collections declined by 2.4 per cent to Rs 1,26,390.63 crore up to December 2001 as compared to Rs 1,29,587.47 crore in the same period last year.

The Centre has budgeted gross tax revenues to grow by 14.3 per cent to touch Rs 2,26,649 crore as against the revised estimate of Rs 1,98,321 crore for 2000-01. However, with collections up to December below last year's levels, a massive pruning of the target is likely in the revised estimates for 2001-02.

According to provisional estimates released by the Revenue Department, indirect tax collections declined to Rs 81,982.64 crore as compared to Rs 84,901.45 crore up to December 2000, marking a 3.44-per cent drop. Direct tax collections, on the other hand, fell by 0.62 per cent to touch Rs 44,407.99 crore as compared to Rs 44,686.02 crore in the same period last year.

The break-up on indirect taxes indicates a 14.3-per cent fall in customs collections. Collections from this source declined to Rs 29,744.29 crore as compared to Rs 34,701.59 crore up to December 2000.

There was some improvement in excise revenues, which grew by 3.3 per cent to touch Rs 49,228.93 crore as compared to 47,654.77 crore in the same period last year.

On the direct taxes front, revenues from corporation tax declined by 4.17 per cent to touch Rs 22,776.41 crore as compared to Rs 23,768.11 crore up to December 2000.

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