New Delhi, Feb. 12 -- According to a release from the finance ministry, the Centre's direct tax collections, net of refunds, reached Rs 15.6 trillion as of February 10 in the current fiscal year, marking a substantial 20.3 per cent increase compared to the previous year.
This surge in collections has propelled the total to 80.2 per cent of the revised estimate (RE) target for FY24. The RE has set the government's direct tax mop-up at Rs 19.5 trillion, higher than the Rs 18.2 trillion projected in the Budget estimate (BE) for FY24.
Remarkably, the 20.3 per cent growth in direct tax collections outstrips the 17.2 per cent year-on-year growth forecasted in the RE of FY24, indicating the potential for the actual mop-up to exceed projections...