Government has missed the overall revised tax collection target for both direct and indirect taxes by Rs2,288 crore in the financial year 2014-15. “Gross Tax Collections at Rs12,45,037 crore has shown a growth of 9 per cent (Rs1,06,303 crore) as compared to FY 2013-14. The gross tax collection is 9.8 per cent of GDP,” the Finance Ministry said in a statement on Sunday.
The revised direct and indirect tax collection for last fiscal was Rs12,47,324 crore -- indirect tax mop up at Rs5,42,325 crore and direct tax at Rs 7,05,000 crore. However, bettering its own financial targets, the government said it has contained the fiscal deficit at 4 per cent of GDP for 2014-15 at Rs5,01,880 crore.