The direct tax buoyancy had risen to a 19-year high of 2.5 per cent in 2021-22 but it again fell to 1.1 per cent the next year. This means that though the direct tax growth was a bit over than gross domestic product (GDP) growth rate, it was nowhere more than double the rate at which the economy expanded in 2023-23.
The Central Board of Direct Taxes (CBDT) gave various aspects of direct taxes recently since 2000-01, but those were till 2021-22. This exercise can be extended till 2022-23 to understand how the year performed in terms of tax buoyancy and tax-GDP ratio. It should be noted that direct tax collection figures are still provisional and GDP figures are on