India witnessed a significant increase in gross direct tax collections, which rose by 15.6% to surpass Rs 27 lakh crore in the previous fiscal year. This growth was primarily fueled by higher income tax and corporation tax collections. The net direct tax collection also performed well, reaching nearly Rs 22.3 lakh crore, marking a growth of 13.6% as compared to the previous year. The surge in tax revenue coupled with savings in expenditure indicates a promising outlook for the fiscal deficit, potentially outperforming the budget estimates.