Be real while fixing tax targets: panel

new delhi: the standing committee on finance has expressed concern over the “myopic� assumptions of the centre in fixing tax targets while not assessing the existing economic scenario and tax buoyancy levels. this, the committee said, reduces the credibility of “budget preparing institution� and the finance ministry. “the ministry should analyse the economic parameters meant for projecting the realistic estimates in greater detail taking into consideration the relevant economic scenario of domestic and international arena,� the panel headed by n janardhana reddy said in its report to parliament. direct tax shortfall, that is revised estimate as against budget estimate, increased to rs 6,502 crore in 2001-02 from rs 40 crore in the previous fiscal.