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Thursday July 23, 03:14 PM
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Source: Hindustan Times
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Direct tax mop-up rises 3.7% in Q1
The country's net direct tax collections grew by 3.65 per cent during the first quarter (April to June) of the financial year 2009-10, even as the government maintained that flat revenue growth was largely due to higher tax refunds."Lower growth in net tax collection was mainly on account of higher tax refund outgo," an official statement here said. After growing at close to a sizzling 9 per cent four successive years, GDP growth fell to 6.7 per cent in 2008-09 as the ripple of the worst recession in decades spread across the globe. The slowdown has also manifested in the form of weaker government finances.
