Direct tax collection sees dismal growth; mid-August mop-up growth under 5%

The collections had shot up that year because people regularised their unaccounted income by paying higher levies

Marred by an economic slowdown, direct tax collections have seen dismal growth so far in the current fiscal year, with the mop-up growing by under 5 per cent till mid-August. 

With glaring signs of a slowdown visible across the consumer durables and non-durables segments, tax officials appear underconfident of achieving the growth target of 17.3 per cent set for 2019-20 in the Budget, presented last month. 

Till August, direct tax mop-up grew by just 4.69 per cent, net of refunds, and 5.69 per cent on a gross basis. Refunds grew by 8 per cent during this period.