17L

The Economic Times - - Economy: Macro, Micro & More -

Re­funds amount­ing to .₹ 1.41 lakh crore have been is­sued dur­ing April 2016-Jan­uary 2017, which is 41% higher than the re­funds is­sued in a yaer ago pe­riod.

In­di­rect taxes growth is ex­pected to slow down from Fe­bru­ary when the pos­i­tive im­pact of the hikes in ex­cise on fu­els from Novem­ber 2015 to Jan­uary 2016 fades away.

Na­yar said this would re­sult in a fur­ther mod­er­a­tion in the growth of ex­cise col­lec­tions to a level that closer re­flects in­dus­trial ac­tiv­ity in the econ­omy.

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