India’s direct tax collections witnessed a substantial growth of 15.6% in the previous fiscal year, surpassing Rs 27 lakh crore, fueled by a rise in income tax and corporation tax. The net direct tax collection met expectations, touching nearly Rs 22.3 lakh crore, marking a 13.6% increase. The surge in tax revenue coupled with expenditure savings indicates a promising outlook for the fiscal deficit, potentially outperforming budget projections.