Taxing data

Going by the data on indirect tax collections from April to July given out by the finance ministry, there’s little evidence of a slowdown. These taxes—customs, excise duties and service taxes—the ministry data show, grew by over 27% over those in the corresponding period last year. Indeed, given that the budget targets for the entire year project a growth of 17.4%, this showing is quite fantastic, and suggests that budget targets will be exceeded smartly.

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