The Union Budget had targeted direct tax collection to grow 18% in 2013- 14.
The Reserve Bank of India is set to ask state-run oil companies to centralise their dollar purchases in a single public sector bank. (BS)
To boost economic growth and provide many more jobs through manufacturing, a Prime Minister- headed committee set a target of raising annual steel production capacity to 300mn tons by 2025 and to increase textile exports by 30% this year. (BS)
Hit hard by slowing economic growth, the governments direct tax collections, net of refunds, rose just 6.4% to Rs897bn in the first quarter of the current financial year, compared to 843bn in April-June of 2012-13. The Union Budget had targeted direct tax collection to grow 18% in 2013- 14. (BS)
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