Overall financial performance in line with budget: FM

Soon after the October IIP data was released today, Finance Minister, Pranab Mukherjee said that the country's overall financial performance has been in line with budget expectations. "The Stimulus has started showing results," he said. However, he cautioned that the impact of poor monsoons will show in October-December.

On tax collections, another indicator of the company's financial health, Mukherjee said that there was likely be a shortfall in indirect tax mop-up. But this would be met by direct tax mop-up thus helping the govt to achieve the overall tax mop-up target for FY10.