Govt may close FY23 with Rs 50,000 cr shortfall in direct tax mop up

The dividend from public sector enterprises gave some breather: It stood at Rs 58,988 crore, compared to the revised target of Rs 43,000 crore

The government is expected to have closed the financial year 2022-23 (FY23) with a Rs 50,000-crore shortfall in the direct tax collection. The mop-up until March 30 stood at Rs 15.97 trillion against the revised target of Rs 16.5 trillion.

Tax officials also expect a deficit in the overall indirect tax mop-up, mainly dampened by the customs and excise collections.

The Revised Estimate (RE) for the outgoing financial year pegged the overall tax revenue at Rs 30.43 trillion, higher than the Budget Estimate (BE) of Rs 27.57 trillion.  The revenue from direct taxes (which include income and corporate taxes) was