Financial Daily from THE HINDU group of publications
Monday, Feb 07, 2005
Financial Daily from THE HINDU group of publications Monday, Feb 07, 2005 |
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Opinion
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Letters Tax collection
Tax collection for the first three quarters of this financial year seems to present us with a mixed bag. While, on the one hand the direct tax collections are buoyant, on the other, the indirect tax collections are trailing. The laggard, of course, is excise duty. What is beyond comprehension is that at a time when the manufacturing activity is robust, with each corporate reporting fantastic profits, the `levies' from the `manufacturing sector' are rather niggardly. Where does the problem lie? Is it with the tax collectors? Or with the corporates? This is not a new phenomenon. Excise collections have been `sticky', hovering at just 3.3 per cent of GDP. This is unacceptable at a time when the `output' has been growing and the `tax regime' has been moderated. If the trend continues, the Finance Minister may have to take corrective action in the forthcoming Budget. Prem T.
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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