Direct tax collections during April to November 2014 grew 5.67% to ₹3.29 lakh crore over the same period a year ago.
Indirect tax collection stood at ₹3.28 lakh crore for the April to November 2014, up 7.1% compared to the same period a year ago.
Cumulative tax collection stood at ₹6.58 lakh crore for the April to November 2014 period.
For fiscal 2015, the government's budgeted revenues are₹13.6 lakh crore, mandating direct taxes to grow by 16% to ₹7.36 lakh crore and indirect taxes by 20% to ₹6.24 lakh crore, reports Livemint.
Tax collection for the year has continued to remain tepid, with the Ministry of Finance asking the tax department to step up tax collections in the remaining three months of the fiscal.
At the current rate, the government is unlikely to meet its fiscal deficit target of 4.1% of the GDP.
Tax mobilization is a reliable indicator of economic growth in GDP terms, and factors affecting it.
