Finance Minister PChidambrm has expressed confidence that the target of Indirect taxes of 5 Lakh fifty thousand 44 crores rupees of will be achieved this year. The Minister said the direct tax code needs a fresh look.The Finance Minister said that the government is a considering decentralization of power as far as tax administration is concerned.

P Chidambaram said that the Good and Services Tax draft bill will be finalized by the end of this fiscal year. He said that he had a talk with Mr Sushil Modi who is heading the empowered group of finance ministry in this connection. Talking to media persons in New Delhi after addressing a conference of the Chief Commissioners and Directors General of Customs, Central Excise and Service Tax.