Centre targets tax revenue of Rs.9 lakh crore in 2011-12

By IANS,

Kolkata : The government’s target for tax revenues during the current financial year (2011-2012) is Rs.9 lakh crore, a top finance ministry official said Wednesday.

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“I am confident that we will end the last fiscal (2010-2011) with a total revenue of Rs.7,92,000 crore, which is Rs.10,000 crore more than our revised figure. Our revised figure was Rs.7,82,000 crore of which 4,46,000 crore was from direct taxes and Rs.3,26,000 crore from indirect tax,” Sunil Mitra, the finance ministry’s revenue secretary, said on the sidelines of an event.

Mitra also pointed out that budget cannot be a means to tackle inflation. “Inflation can be tackled by monetary policy,” he said.