Govt hopes to exceed indirect tax collection estimate

Ahead of Union Budget, the government today said it hopes to exceed the indirect tax collection estimate of Rs 3.36 lakh crore for this fiscal in view of the buoyancy in the economy.

“I am very, very hopeful,” Central Board of Excise and Customs (CBEC) Chairman S Dutt Majumder told reporters on a query as to whether the government will be able to collect indirect taxes, exceeding the revised estimates.

Boosted by higher revenue mop-up during April-December 2010-11, the Government last month upped indirect tax collection estimates by 7 per cent to Rs 3.36 lakh crore for this fiscal, from earlier Budget target of Rs 3.15 lakh crore.

It also raised the target for excise collection, pegging it at Rs 1.33 lakh crore, 31.2 per cent more than last year.

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