new delhi the government on monday said it will review continuation of various tax concessions and duty cuts announced earlier to stimulate the economy before march 31 said the finance ministry it cenvat cut runs out of time on march 31 lets wait for march 31 government can always take a view on exemption revenue secretary p v bhide told reporters at the customary postbudget interaction when asked whether the tax concessions would be extended beyond march 31 noting that duty exemptions were neither given as a part of an interim budget nor budget he said i am not in a position to say what decision will be taken on march 31 he further said the government has been taking specific measures to deal with the impact of global financial meltdown on the indian economy as part of the two stimulus packages the government has slashed 4 per cent excise duty on all goods excluding petroleum products to boost demand as a result of the tax concessions announced by the government during the course of the current financial year the gross tax collection was likely to fall short by rs 60000 crore from the original estimate the revenue deficit during the current fiscal is likely to go up to 44 per cent of the gross domestic product from 1 per cent and has been pegged at 4 per cent in 200910