Manufacturing Takes A Hit, But Government Says Tax Collection Up After Notes Ban | Read

PUBLISHED ON: January 9, 2017 | Duration: 2 min, 21 sec

   
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Finance Minister cited robust tax figures to counter naysayers who said that the economy took a big hit after the notes ban. The collection in central excise duty - which related to manufacturing - surged over 31 per cent in December 2016 alone, as compared to the December 2015 figures, he said. Mr Jaitley said the tax collection has gone up in nine month starting from April to December. Claiming that the direct and indirect taxes have gone up, Mr Jaitley said compared to November 2016, indirect tax growth was 12.8 per cent in December 2016.
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