India's tax collections for September improved significantly as better administration practices and tough tax compliance policies introduced earlier this year began to take effect.
So far this year the rapidly slowing economy has resulted in the level of tax collections being lower than usual - figures for revenue receipts for the quarter ending in June were reported to have fallen by 13 per cent from the same quarter last year.
However, Revenue Secretary S Narayan said revenue collections were picking up, telling Reuters: 'In direct taxes, we have seen significant buoyancy in September and the entire shortfall has been wiped out.'
For almost ten years India has not met its budget aims but it hopes to cut its deficit from 5.2 per cent of GDP to 4.7 per cent in the current financial year.
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