Net direct mopup growth lags Budget goal

The Centre’s net direct tax collections grew 8 per cent till December 17 in 2025-26 (FY26) to ₹17.04 trillion, lower than 12.6 per cent growth assumed in the FY26 Budget, according to provisional data released by the Central Board of Direct Taxes (CBDT).

- ASIT RANJAN MISHRA

This is despite 13.5 per cent or ₹6,430 crore less refunds compared to the same period in FY25. The largest dip in refunds (24.2 per cent) was in non-corporate tax that includes personal income tax (PIT) payers while corporate tax refunds dipped 4.4 per cent during the same period.

Gross direct tax collections during April 1-December 17 period rose 4.16 per cent to ₹2 trillion.

The Centre has budgeted ₹25.2 trillion in net direct tax collection for FY26, and it has achieved 67.6 per cent of the target till December 17. In FY25, net direct taxes had risen 13.6 per cent to ₹22.26 trillion, surpassing the Budget Estimate (BE).