The overall collections are about 17% higher than in 2020-2021, driven by a 22% growth in direct taxes comprising corporate and income tax
India’s total tax revenues in the financial year that ended on 31 March touched an estimated ₹27.17 trillion, surpassing the revised estimates for that year presented in the 1 February budget by ₹3.1 trillion. The overall collections are about 17% higher than in 2020-2021, driven by a 22% growth in direct taxes comprising corporate and income tax. What has driven direct tax collections, and is the pace of growth durable or a flash in the pan?