India expects 14-15 % growth in direct tax collections: Arun Jaitley

Union Finance Minister Arun Jaitley on Monday said the government expects increase of 14-15 percent in direct tax collection during the fiscal year due to increased economic buoyancy and improved Gross Domestic Product (GDP) growth. India's economy is forecast to accelerate to 8-8.5 percent growth in the fiscal year 2015-16 started in April, up from 7.4 percent last year. The government has direct tax target of rupees 7.98 lakh crore for 2015-16. Jaitley said the government had planned to invest in infrastructure projects, irrigation projects and social security schemes for the poor to further boost the economy. Jaitley also told officials to check tax evasion, squeezed out parallel economy and not to harass honest tax payers.