DIRECT TAX GROWTH IN THE FIRST DECADE MUCH SHARPER THAN SINCE

Even as net direct tax collections have risen to over ₹16.6 trillion in FY23, the pace of growth has slowed down over the last few years despite government efforts at widening the tax base, greater focus on compliance as well as measures to reduce tax evasion, including demonetisation of high value currency, reports Surabhi.

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According to the latest time series data released by the CBDT, net (post-refund) direct tax collections grew from just ₹68,305 crore in FY01 to ₹14.12 trillion in FY22. However, the growth rate between FY01-FY11 was much h