new delhi nov 14 the government has so far mopped up rs 6 lakh crore or less than 50 per cent of the total tax collection target of rs 1335 lakh crore for the current fiscal a senior official said efforts are being made to achieve the target set in the budget central board of direct taxes chairman p c mody said after inauguration of the taxpayers lounge at pragati maidan here during the beginning of the year we were given the tax collection target of rs 1335 lakh crore of this we have already collected rs 6 lakh crore so far he said refunds due to the tax payers are done swiftly he said adding that the refunds have gone up 20 per cent compared to the last fiscal efforts are made towards tax collection and i have full confidence that we will reach the target set in the budget mody said he also said that the tax payer services is one of the focus area of cbdt keeping this in mind a member has been appointed for tax payer services the income tax department has also launched a faceless eassessment scheme to eliminate interface between an assessing officer and a taxpayer to begin with 58322 income tax cases have been selected under the national eassessment center neac there are pressure on the government in meeting revenue target due to sagging economy the economy has hit sixyear low of 5 per cent during the first quarter of the current fiscal it is estimated that growth in the second quarter to remain below 5 per cent the overall growth of the current fiscal likely to remain subdued and various estimate indicates that the gdp growth to be lower than 55 per cent putting pressure on the tax collection besides the government decision to lower corporate tax rate will have revenue implication of rs 145 lakh crore and rollback of enhance surcharge and other measures will also bring down tax collection finance minister nirmala sitharaman on september 20 announced a cut in corporate income taxes for domestic companies to 22 per cent from 30 per cent previously this would bring effective corporate tax rate including all additional levies to about 252 per cent for companies which are not receiving any incentives or exemptions new manufacturing companies formed after october 1 will enjoy a 15 per cent effective rate of 17 per cent corporate income tax rate against 25 per cent previously the move is estimated to result in rs 145 lakh crore in revenue loss for the government during 201920 subsequent to this there have been demands for a reduction in income tax rates for individuals as well so as to put more money in the hands of the common man for a consumptionled revival of the economy indias economic growth had slipped to a sixyear low of 5 per cent in the apriljune quarter and the revival may take a few quarters despite announcements to boost real estate and