Direct tax collections grow 18% to Rs 10.03 lakh cr

New Delhi, May 23 (IANS) India's direct tax collections for the last financial year crossed the Rs 10 lakh crore mark, registering an increase of 18 per cent over the previous fiscal, the government said on Wednesday.

"During the last Financial Year 2017-18, net direct tax collections have crossed Rs 10.03 lakh crore mark which is 18 per cent higher than the collections during the FY 2016-17," the Finance Ministry said in a tweet.

It added that the growth rate of 18 per cent was the highest in the last seven years.

Last month, Finance Secretary Hasmukh Adhia said that India's direct tax collections for FY 2017-18 at a net of Rs 9.95 lakh crore grew at 17.1 per cent over the previous fiscal and had already exceeded the Budget Estimates (BE) figure.

He added that those figures were provisional and subject to change pending final collation of data of collections.

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