The Modi Government is looking to cross Rs. 30,000 crore in its direct tax revenue collection this time. This is more than the target set by the Union Budget.
According to a top official in the tax department, this will enable the Centre to meet the 3.3% fiscal shortfall target for the GDP (Gross Domestic Product) of the FY 2018-19. An unexpected gap in the GST collections is the reason for the government to push the target.
The shortage between revenue and expenditures was 10.39% of the Budget Estimate (close to Rs. 6.48 lakh crore) from April to October 2018. In November 2018, the GST revenue has fallen to Rs. 97,637 crore from the Rs 1 00,710 crores in the previous month.
