Indian government's direct tax collection rises 21% y/y in April-June

Reuters
·1-min read
FILE PHOTO: Indian twenty rupee currency notes are displayed at a roadside currency exchange stall in New Delhi

NEW DELHI (Reuters) - The Indian government's net direct tax collection rose 21% year on year to 4.63 trillion rupees ($55.52 billion) from April 1 to June 17, it said in a statement on Tuesday.

On a gross basis, tax collection before refunds grew more than 22% year on year to 5.16 trillion rupees, the statement said.

The government has issued tax refunds of 533 billion rupees in the current financial year that started on April 1, up to June 17, 2024, it added. India's financial year runs from April to March.

($1 = 83.3990 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Kirsten Donovan and Andrew Heavens)

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