India’s direct tax collections witnessed a significant boost, soaring by 15.6% to surpass Rs 27 lakh crore in the previous fiscal year. This growth was primarily fueled by a rise in income tax and corporation tax payments. The net direct tax collection also performed well, meeting expectations by reaching nearly Rs 22.3 lakh crore, marking a 13.6% increase. The surge in tax revenue coupled with savings in expenditure indicate a promising outlook for the fiscal deficit, potentially outperforming the budget estimates.