The government’s tax collections rose 28.6% on year to Rs 1.295 lakh crore in Apr-Jun, the first quarter of 2010-11, the controller general of accounts said Friday.
Tax collections in the first quarter accounted for 17.3% of the budget target of Rs 7.467 lakh crore for the whole year. The budget has projected a 19.1% growth in tax collections in 2010-11.
Net tax collections of the government rose 32.6% on year to Rs 84,000 crore in Apr-Jun. Net tax is gross collection minus devolvement to states and surcharge for financing the National Calamity Contingency Fund.
The centre devolves about 29-30% of the total tax mop-up to states as their share in central taxes.
The centre disbursed Rs 45,000 crore to states during Apr-Jun as their share in tax collections, up 22.2% from Rs 36,824 crore a year ago.
NewsWire18
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