Direct tax collections have picked up pace over the past month, with net inflows rising 15.9% to Rs. 4.75 lakh crore by July 9, helping the government meet more than 26% of its target for this year.

• Gross direct taxes, which had risen 12.7% as of June 17, had grown 14.65% to Rs. 5.17 lakh crore by July 9, as per the Income Tax Department. 
• Refunds amounting to Rs. 42,000 crore have been issued during April 1- July 9, 2023, which are 2.55 per cent higher than refunds issued during the same period in the preceding year.
• The 2023-24 budget has pegged direct tax collection at a little over Rs. 18.23 lakh crore, a 9.75% higher than Rs. 16.61 lakh crore mopped up last fiscal.