Direct tax mop-up beats the revised estimates at Rs 13.6 trillion

Up more than Rs 1 trn over RE for FY22, to help govt rein in fiscal deficit at 6.9%

The government has collected from direct taxes over Rs 1 trillion more than what had been projected in the Revised Estimates for 2021-22 even as about a fortnight is left for the fiscal year to be over.

This collection, a sign of economic recovery and better tax administration, will give the government some buffer in the face of rising expenditure due to the Russia-Ukraine war and an expected shortfall in disinvestment receipts.

The government collected about Rs 13.6 trillion from direct taxes after paying refunds till March 16 against Rs 12.50 trillion projected in the RE. It paid Rs 1.87 trillion as