Current Affairs - Economy - Discussion

13.2% was the year-on-year growth in India’s net direct tax collections, which reached ₹13.38 lakh crore as of October 14, 2026. According to provisional figures released by the Income Tax Department, gross direct tax collections increased by 14.89% to ₹16.03 lakh crore during the same period. Corporate tax collections contributed significantly to the growth, with net corporate tax revenue rising by 20.6% to ₹5.99 lakh crore. Securities Transaction Tax (STT) collections also recorded strong growth of 51.6%, reaching ₹46,840 crore. The government set a direct tax collection target of ₹26.97 lakh crore for the financial year 2026–27.