Net direct tax collection jumps 60.8% to Rs 9.5 trillion in FY22 so far

Improvement in mop-up bodes well for achieving govt's fiscal deficit target at 6.8% of FY22 GDP

Net direct tax collection in FY22 as of December 16 rose 60.8 per cent to Rs 9.5 trillion, signalling that the government may end up this fiscal year with a comfortable revenue position.

The government earlier this month sought approval from Parliament for a net additional spending of Rs 3 trillion in FY22, according to the second batch of supplementary demands for grants, tabled by Union Finance Minister Nirmala Sitharaman.

The additional expenditure will be on food and fertiliser subsidies, export and production incentives, and repaying Air India’s past dues.

The data released by the finance ministry showed net direct tax collection till