India’s gross direct tax collections witnessed a remarkable surge of 15.6% to surpass Rs 27 lakh crore in the previous fiscal year, fueled by growth in income tax and corporation tax. The net direct tax collection performed in line with expectations, touching nearly Rs 22.3 lakh crore, marking a 13.6% increase. The uptick in tax revenue coupled with expenditure savings indicates a possible enhancement in the fiscal deficit as compared to the budget projections.