New Delhi, March 22 -- The Centre's net tax collections have been robust in the current financial year so far. India is working on a plan to import oil from the US to avoid reciprocal tariffs. Meanwhile, top mutual funds heavily sold IndusInd Bank shares before the accounting discrepancy was revealed.

The Centre has collected Rs.21.26 trillion in net direct taxes until 16 March this financial year, reaching 95% of its revised target, according to the data released by the Income Tax Department. Net direct tax revenue grew 13.1% year-over-year, outpacing India's 9.9% nominal GDP growth estimate, indicating strong buoyancy and increased compliance. Net corporate tax revenue grew at a slower pace of 7.1%. As such, the share of net corporate ...