Indirect tax collections figure on Wednesday corroborated dismal performance by manufacturing this financial year as shown by advance GDP numbers yesterday. Excise duty collections again contracted in January, refusing to show a firm rising trend this financial year. Excise duty collections growth was in negative zone at 1.1 per cent in January to Rs 12,319 crore against Rs 12,458 crore in the same month a year ago. Though the fall in excise duty collections is marginal, it certainly shows that manufacturing in the month will not at least perform extremely well. Excise duty collections rose 9.7 per cent in December, after falling 6.5 per cent in the previous month. Again, the mop-up was down 8.7 per cent in September.
Source: Business Standard
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