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FY23 net direct tax collection exceeds Revised Estimate
Business Standard
|April 04, 2023
Mop-up could help govt meet its fiscal deficit target
Direct tax collection rose 17.63 per cent to ₹16.61 trillion in FY23, exceeding the Revised Estimate (RE) on this count slightly, the provisional data released by the finance ministry on Monday showed. Collection was ₹14.12 trillion in FY22.
The strong growth reflects improved business performance amid external headwinds.
The mop-up could help the government meet its fiscal deficit target for FY23.
The Budget Estimate (BE) for direct taxes in FY23 was set at ₹14.20 trillion, and was raised to ₹16.5 trillion in the RE.
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