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July 20, 2001 		Feedback  
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India's tax revenues fall nearly 13% in Q1

India announced on Friday that total tax collections for the first quarter ended June fell 12.89 per cent to Rs 324.19 billion from Rs 372.17 billion, a further sign of the economic slowdown gripping the country.

The data released by the finance ministry showed that direct taxes fell by 27.95 per cent to Rs 77.18 billion from 107.12 billion over the same period a year earlier.

Indirect taxes for the quarter fell 6.81 per cent to Rs 247.01 billion from Rs 265.05 billion.

Indian tax receipts have fallen over the past months due to a deep industrial slowdown after displaying robust growth.

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