Government collects tax of Rs 10.66 lakh cr in first 11 months of current fiscal

New Delhi Feb 10 (KNN) The tax collections stood at Rs 10.66 lakh crore in the first eleven months of the current financial year, which was 73.5% of the Budget target of Rs 14.49 lakh crore.

However, tax collections might slightly fall short of the budget target, but it would be offset by robust indirect tax collections, according to an official statement. 

The revenue department expects additional Rs 40,000 crore to come from indirect taxes, which will offset shortfall in direct tax mop up.

In its first upload on YouTube by the finance ministry, Revenue Secretary Hasmukh Adhia said that direct tax collections were up 10.9% at Rs 5.2 lakh crore till January of the current  financial year, while indirect tax mop up grew 33% at Rs 5.44 lakh crore. (KNN Bureau with PIB Inputs)