Fiscal scenario
The apparently satisfied FM told the Economic Editors' Conference yesterday,
The financial year 2007-08 has so far shown the expected revenue buoyancy. 40.7 per cent of the budgeted revenue receipts have been realized by September 2007, as against 40.0 per cent during April-September 2006-07 and 35 per cent during April-September 2005-06. Revenue receipts and capital receipts, especially non-debt capital receipts, have shown improvement. On the revenue side, the gross tax collection has shown a 25 per cent growth during April-September 2007. Customs duty has increased by 16 per cent, taxes on income by 38.9 per cent, corporation tax by 41 per cent, service tax by 36.3 per cent and union excise duty by 6.5 per cent. Non-tax revenue went up by 19 per cent during the period.