Good news regarding the national budget is that there has been excellent tax collection during this fiscal year with an exceptional increase in revenue within the first two and half months. Government data states that the net income tax collection increased by 14.64% during April 1 to June 17, making the figure exceed ₹5.21 lakh crore. The increase in tax collection signifies that the Indian economy is doing well.

This time around, the corporate sector is at the top, where net corporate tax collection increased by 22% and amounted to ₹2.08 lakh crore. At the same time, net non-corporate tax collection has also increased by 8% and is estimated at ₹2.94 lakh crore. It is essential to keep in mind that non-corporate tax collection includes individuals, Hindu Undivided Families (HUFs), and small businesses.

Gross tax figures are also very strong. During this period, total gross direct tax collection rose by 12.46% to exceed ₹6.10 lakh crore. A breakdown reveals that the corporate tax component exceeds ₹2.76 lakh crore, while the non-corporate tax share stands at approximately ₹3.15 lakh crore.

Amidst this, the government has also been prompt in issuing tax refunds. According to the data, refunds amounting to ₹89,026 crore have been issued to taxpayers up to May 17. This pace of issuing refunds is 1.19 percent higher than that of the previous year. The government is placing significant emphasis on timely refunds to taxpayers.

The Central Government has set an ambitious tax collection target for the year. In the budget, the government has projected direct tax revenue of ₹26.97 lakh crore. This target represents a 15 percent increase over the ₹23.40 lakh crore recorded in the previous fiscal year (FY26). Data from the initial months indicate that the government is moving in the right direction; if this momentum is sustained, the government is likely to achieve its set target ahead of schedule.

Good news regarding the national budget is that there has been excellent tax collection during this fiscal year with an exceptional increase in revenue within the first two and half months. Government data states that the net income tax collection increased by 14.64% during April 1 to June 17, making the figure exceed ₹5.21 lakh crore. The increase in tax collection signifies that the Indian economy is doing well.

This time around, the corporate sector is at the top, where net corporate tax collection increased by 22% and amounted to ₹2.08 lakh crore. At the same time, net non-corporate tax collection has also increased by 8% and is estimated at ₹2.94 lakh crore. It is essential to keep in mind that non-corporate tax collection includes individuals, Hindu Undivided Families (HUFs), and small businesses.

Gross tax figures are also very strong. During this period, total gross direct tax collection rose by 12.46% to exceed ₹6.10 lakh crore. A breakdown reveals that the corporate tax component exceeds ₹2.76 lakh crore, while the non-corporate tax share stands at approximately ₹3.15 lakh crore.

Amidst this, the government has also been prompt in issuing tax refunds. According to the data, refunds amounting to ₹89,026 crore have been issued to taxpayers up to May 17. This pace of issuing refunds is 1.19 percent higher than that of the previous year. The government is placing significant emphasis on timely refunds to taxpayers.

The Central Government has set an ambitious tax collection target for the year. In the budget, the government has projected direct tax revenue of ₹26.97 lakh crore. This target represents a 15 percent increase over the ₹23.40 lakh crore recorded in the previous fiscal year (FY26). Data from the initial months indicate that the government is moving in the right direction; if this momentum is sustained, the government is likely to achieve its set target ahead of schedule.