Tax collection target will be met

By Our Staff Reporter

NEW DELHI, JULY 13.

The Union Finance Minister, Mr. Yashwant Sinha, today said that despite a sluggish growth in imports and industry, his Government would strive to achieve the indirect tax collection target of Rs. 1,41,000 crores during this financial year.

Addressing the Investiture Ceremony of Customs and Excise officials, here, Mr. Sinha said: ``We have to work hard to get closer to the target and even exceed the target.''

The Minister said the Government was aware of the fact that customs collections would be lower at a time when imports are showing declining trend, but said he was hopeful that indirect taxes would be on target. Acknowledging the importance of customs and excise in revenue collection, he said: ``They collect over two-third of the tax revenue of the Government of India.''

In his address, Mr. Sinha also emphasised the importance of revenue intelligence, which he said enables the Government to take advance and preventive action.

Earlier, Mr. Sinha presented Presidential Certificates of Appreciation to officers of the Customs and Excise Department for their meritorious service and devotion. Instituted in 1962, the ceremony was being held after a gap of three years.

Mr. Sinha presented the certificate for the exceptionally meritorious service at the risk of life to Mr. S. K. Anjana, Sepoy, Central Excise, Kanpur, for the year 2001, while Mr. Costao Fernandes, Superintendent, Customs, Mumbai received in absentia.

In category of specially distinguished record of service, 31 officials were presented the certificates for the year 1999 by Mr. Sinha. Certificates in the same category for the year 2000 and 2001 were presented by the Minister of State for Finance (Revenue), Mr. G. N. Ramachandran. While 35 officials received the award for the year 2000, as many as 34 for the year 2001.

Among those present at the function were Chairman of the Central Board of Excise and Customs, Mr. Sukumar Shankar, and the Director General of Revenue Intelligence, Mr. M.K. Zutshi.

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