With the impressive performance of the revenue officials in last fiscal, the Finance Minister Pranab Mukherjee expressed confidence of achieving the indirect tax collection target of Rs 5.05 lakh crore for 2012-13.
"They have done good job last year. This year also, I do hope it would be possible for them to do their job and realise the revenue target which has been fixed for them," he said.
The statement comes on the back of collection of Rs 3,92,781 crore in 2011-12 which was 99.6 percent of the Budget Estimate. The target of the collection was revised after the reduction in customs and excise duties on petroleum products following hike in diesel, kerosene and LPG prices in June, 2011.
Meanwhile, as per the government, it aims at generating about Rs 5.05 lakh crore from central excise, customs and service tax.