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Chief Economic Advisor Arvind Subramanian said that Indirect tax revenues grew 37.5 per cent in the first quarter of current fiscal, which reflects a healthy growth in the economy. In a tweet, Mr Subramanian said, indirect tax revenue grew a robust 37.5 per cent in April-June over the comparable period last year. He said, this reflects the effect of the additional measures taken by the central government, including an excise duty increase on diesel, petrol and gold, besides a hike in service tax rate from 1st of last month.
However, the index of industrial production (IIP) data released Friday showed that the growth in factory output in the first two months of the fiscal was 3 per cent as against 4.6 per cent in April-May of 2014-15.
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