Not another tax amnesty, please

As the second instalment of advance tax numbers rolled in on Thursday, it is obvious the finance ministry will fall short of the budget estimates for tax receipts for 2011-12 by at least 7%. Since the disinvestment receipts, too, will be nowhere near the budgeted R40,000 crore, the struggle finance minister Pranab Mukherjee will face is tough to come anywhere near his target for fiscal deficit.

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