CBDT releases list of budget targets; Bangalore & Pune rise in ranks
By TIOL News Service
NEW DELHI, MAY 25, 2019: THE CBDT has fixed the budget target for each cadre-controlling Pr. CCIT in view the revenue potential of the Region, which is based on the weighted average growth rate of net collections of last three years, giving highest weight to the immediately preceding year. The statistical growth rate for a Region has been further moderated by averaging it out with the all-India targeted growth rate so as to narrow the gap between all-India growth and the target growth rate given to the Region.
Moreover, factors significantly affecting the potential of revenue for a particular Region have also been taken into account for making necessary adjustments in the Regional targets so as to allocate the Budget Estimates reasonably and equitably.
Going by the details one may find that Bangalore has risen to the third slot after Mumbai and Delhi with a target of Rs 1.5 lakh crore. Out of the total target of Rs 13.8 lakh crore, Mumbai and Delhi's targets are Rs 4.4 lakh crore and 1.9 lakh crore respectively. The fourth position goes to Chennai and fifth to Pune.