Direct tax kitty increases 22%, cushion for government to spend more

India's Gross Direct Tax Collections surged by 22.2% to reach Rs 5.15 Lakh Crore, supporting higher government spending. The finance ministry's latest data highlights a 27.3% boost in advance tax collections, mostly from the corporate sector. Refunds amounting to Rs 53,322 crore have been issued in the FY2024-25 till June 17, 2024.