Direct Tax Collections Rise 13% to Rs 12.12 Lakh Crore

The government collected more direct taxes than it did during the same period last year.

These taxes mainly come from companies and people who earn income.

Net collections rose 13% and crossed Rs 12.12 lakh crore.

Companies paid much more in advance and corporate taxes.

The government also gave back more money through tax refunds.

During the first four months of the financial year, the fiscal deficit was below the amount recorded last year.

A lower deficit can mean the government needs to borrow less money.

However, higher fuel and fertiliser subsidies could increase government spending later.