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Revenue shortfall likely to be about Rs 6000 crore
Revenue collections in the country are likely to witness a shortfall of about Rs 6000 crore during 2000-01 despite a reduction in government expenditure of between Rs 3000-4000 crore, Revenue Secretary, S Narayanan, said in New Delhi on Saturday.
Revenue collections in the country are likely to witness a shortfall of about Rs 6000 crore during 2000-01 despite a reduction in government expenditure of between Rs 3000-4000 crore, Revenue Secretary, S Narayanan, said in New Delhi on Saturday.
"Though the final figures have not yet been compiled for the last fiscal, revenue shortfall would be between Rs 5000-6000 crore as against between Rs 2000-3000 crore last year," Narayanan told reporters on the sidelines of a seminar on anti-dumping in New Delhi.
"The office of Controller General of Accounts (CGA) has not yet compiled the figures for 2000-01 as we are awaiting the statistics relating to tax deductions of state government employees," he said, adding there was an indication that these collections are likely to be substantial.
On the expected lower tax collection figures for April this year, Narayanan said, "April is considered an outgo month because all the refunds on direct taxes including MODVAT and similar refunds cleared in March are disposed off in April".
Bureau Report