However, revenue realisation in the first five months of the current financial year have registered a growth of 11.61 per cent only. The revenue collection upto August, 1999, has been Rs 50,234.86 crore, as compared to Rs 45,008 crore collected during the same period last year.

Direct tax collections in the first five months of the current financial years have gone down to Rs 8,961.10 crore from Rs 9,626.17 crore collected during the corresponding period last year.

Though the income tax collections up to August, 1999, have shown an increase of 22.12 per cent over the same period last year, it is the corporate tax which has played spoilsport.

Corporate tax collectionup to August this year is Rs 2,864.59 crore as against Rs 4,296.76 crore collection during the same period last year. However, the collection of corporate tax during August is Rs 444.43 crore - 165 per cent higher than than August, 1998. According to a senior revenue department official, corporate tax collection is expected to pick up in September as the due date for second instalment of advance tax payment is September 15.

The income tax realisation up to August this year is Rs 6,301.73 crore as compared to Rs 5,160.40 crore in the same period of 1998. Maintaining the uptrend, income tax collection during August, 1999, amounted to Rs 1,168.45 crore, registering an increase of 25 per cent as compared to the August, 1998 collection.

On the indirect tax side, collection of excise duty upto August, 1999, is Rs 22,019.40 crore, as compared to Rs 18,199.84 crore collected upto August 1998, registering a growth of 20.99 per cent.

Registering a growth of 13.11 per cent, customs revenue collection upto August,1999, is Rs 18,149.97 crore, as compared to Rs 16,045.75 crore during the same period last year. The growth in customs collection during the period is substantially less than the 23 per cent target fixed for the current financial year. Incidentally, growth in customs revenue collection during April-August 1998, was negligible.

Total indirect tax collection upto August this year is Rs 41,273.76 crore as against Rs 35,362.22 crore during the same period last year - an increase of 16.65 per cent.