Govt may go for more debt

The government is finding it difficult to meet direct tax target due to industrial slowdown and may go in for larger market borrowings than the revised target of Rs 4.7 lakh crore in the current fiscal, a top Finance Ministry official said on Tuesday.

The government envisages to mop up Rs 5.32 lakh crore from direct taxes, which mainly comprise corporate and personal income taxes. The net direct tax collection was Rs 2.35 lakh crore during the first eight months of this fiscal.