Govt will meet tax collection target, says Pranab Mukherjee

Finance minister Pranab Mukherjee today expressed confidence that the government will be able to meet both direct and indirect tax collection targets for this fiscal.

"The overall performance (of direct and indirect taxes collections) has been satisfactory. And I do hope that not only in this (Mumbai) region but at the national level also we will be able to reach the target," Mukherjee told reporters after a review meeting with the top brass of the Customs and Central Excise Departments of Mumbai region here.

The government has budgeted Rs4.3 lakh-crore from direct taxes in 2010-11 and Rs3.13-lakh-crore from 2010-11.

The minister said that realisation of taxes were quite satisfactory from Mumbai region.

"Customs duties have been realised 56% over last year's collection, central excise at 38% and service tax 16%," he said.

This (collection) is in line with the national trend and reflects the buoyancy in the economy, he said.