Centre unlikely to sustain 19.6% growth in direct tax mop-up in FY24

The central government may not be able to sustain the current 19.6 per cent growth rate in direct tax collections in 2023-24, as per a report in Economic Times. Nominal GDP, which is estimated to grow at 15.4 per cent in the current fiscal, may fall in 2023-24 on the back of threats of global recession. This would adversely impact tax collections. Net direct tax collection grew by 19.6 per cent to Rs.12.3 trillion during 1 April 2022-10 January 2023. This is 86.7 per cent of the budget estimates for current fiscal.

References
1. https://economictimes.indiatimes.com/news/economy/indicators/india-may-find-it-hard-to-maintain-current-growth-momentum-in-direct-taxes-next-year/articleshow/97165935.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.3 +0.7
Consumer Sentiments Index
Base September-December 2015
84.9 0.0
Consumer Expectations Index
Base September-December 2015
84.0 0.0
Current Economic Conditions Index
Base September-December 2015
86.4 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Mar 22 Jun 22 Sep 22 Dec 22
New projects 8.68 5.20 4.42 6.68
Completed projects 1.33 1.18 1.36 1.62
Stalled projects 0.43 0.53 0.07 0.01
Revived projects 0.33 0.29 0.12 0.32
Implementation stalled projects 0.09 0.29 0.26 0.11
Updated on: 08 Feb 2023 9:28AM
Quarterly Financials of Listed Companies
(% change) Mar 22 Jun 22 Sep 22 Dec 22
All listed Companies
 Income 20.8 40.1 25.1 19.2
 Expenses 19.8 41.4 27.1 20.0
 Net profit 31.6 21.1 -1.5 3.2
 PAT margin (%) 8.8 7.2 7.8 9.7
 Count of Cos. 4,686 4,704 4,585 1,628
Non-financial Companies
 Income 24.8 50.1 27.9 17.8
 Expenses 25.7 52.9 31.5 19.8
 Net profit 10.1 8.4 -21.1 -14.2
 PAT margin (%) 7.6 5.7 5.6 7.1
 Net fixed assets 2.0 4.1
 Current assets 15.0 19.1
 Current liabilities 11.6 10.4
 Borrowings 3.6 12.8
 Reserves & surplus 11.2 7.6
 Count of Cos. 3,398 3,424 3,375 1,200
Numbers are net of P&E
Updated on: 08 Feb 2023 9:28AM
Annual Financials of All Companies
(% change) FY20 FY21 FY22
All Companies
 Income 0.6 -1.4 26.0
 Expenses 0.3 -3.6 24.9
 Net profit -3.0 74.5 63.3
 PAT margin (%) 2.0 4.5 7.2
 Assets 8.9 10.7 9.9
 Net worth 4.8 12.0 14.0
 RONW (%) 3.4 6.9 11.5
 Count of Cos. 31,839 30,688 14,155
Non-financial Companies
 Income -1.1 -2.5 30.7
 Expenses -0.9 -4.4 30.4
 Net profit -20.5 62.4 61.3
 PAT margin (%) 2.3 4.0 6.2
 Net fixed assets 11.4 2.4 2.1
 Net worth 2.1 10.6 14.5
 RONW (%) 4.7 7.6 12.7
 Debt / Equity (times) 1.1 1.0 0.8
 Interest cover (times) 1.9 2.5 4.0
 Net working capital cycle (days) 73 82 59
 Count of Cos. 25,106 24,021 11,477
Numbers are net of P&E
Updated on: 04 Feb 2023 5:32PM