India's Direct Tax Collection Nears ₹23 Lakh Crore, Economy Shows Strength

• India's net direct tax collection reached ₹22.80 lakh crore, an annual increase of 7.19%.
• Corporate tax and Securities Transaction Tax (STT) significantly boosted government revenue.
• Total collection includes ₹10.91 lakh crore from corporate tax and ₹11.32 lakh crore from non-corporate tax.
• Tax refunds amounted to ₹4.35 lakh crore; gross direct tax collection stood at ₹27.15 lakh crore.
• Growth rate slowed slightly due to budget concessions for the middle class, including tax exemption for incomes up to ₹12 lakh under the new regime.