The Chairman of the Central Board of Direct Taxes (CBDT) said asked tax officials from around the country to improve tax collections in order to close the widening fiscal deficit.

Finance Minister Pranab Mukherjee has expressed concern over the widening fiscal deficit, huge subsidy bills as well as lower-than-targeted direct tax collections. Mr. Das wrote to top IT officials on February 1 that the Rs. 5.32 lakh crore direct tax target must be achieved.

He has encouraged tax officials to collect as much revenue as possible this fiscal. He promised `good appraisals' and `choice transfers'. The CBDT chief also directed all the chief commissioners of income-tax to provide data on of revenue collection by February 15.

Union Finance Minister Pranab Mukherjee has said that that country might have to settle for GDP growth of 7 per cent this year.

He said while speaking to a television channel that the country's GDP growth ahs been 7.3 per cent and the two quarters are unlikely to have substantial improvement and thus the GDP growth for the year is expected to be around
7 per cent.

Mr. Mukherjee has appealed to the corporate leaders in the country to help revive the growth in the country. The industry has urged the finance minister to take steps to boost investment in the country and put forward new reform measures.