Tax collections are painting a positive picture for India’s economy. Gross direct tax receipts in FY 2025-26 have risen 4.09% to over ₹22.78 lakh crore by February 10, compared to ₹21.88 lakh crore in the year-ago period.
With ₹3.34 lakh crore refunded, net collections reached ₹19.43 lakh crore— a robust 9.40% higher than ₹17.76 lakh crore, aided by lower refunds of ₹4.11 lakh crore previously.
Segment-wise, corporate net taxes grew to ₹8.89 lakh crore (from ₹7.77 lakh crore), non-corporate to ₹10.03 lakh crore (from ₹9.47 lakh crore). STT inflows increased marginally to ₹50,279 crore. Other taxes netted ₹326.38 crore from gross ₹358.44 crore.
GST data reinforces the narrative: January gross up 6.2% at ₹1.93 lakh crore (prior ₹1.82 lakh crore), cumulative April-January up 8.3% to ₹18.43 lakh crore. Net January GST at ₹1.70 lakh crore (7.6% YoY), FYTD net ₹15.95 lakh crore (6.8% up).
This dual growth in direct and indirect taxes underscores widening economic participation and efficient revenue machinery. It bodes well for fiscal consolidation, enabling investments in infrastructure, defense, and inclusive development amid a stable macroeconomic backdrop.