Direct Tax Collections: A big positive news related to the country’s tax collection has come to light. There has been an increase of about 7 percent in direct tax collection in the current financial year, due to which the total collection has increased to more than Rs 12.92 lakh crore. According to the latest data released by the government, between April 1 and November 10, 2025, the rate of refund issuance declined by 18 percent on an annual basis to a little more than Rs 2.42 lakh crore.

Increase in corporate tax

Net corporate tax collection during this period was approximately Rs 5.37 lakh crore, which was Rs 5.08 lakh crore in the same period of the last financial year. This indicates stability and improvement in profits in the corporate sector.

At the same time, the combined tax collection from individual taxpayers and HUF (Hindu Undivided Family) increased to Rs 7.19 lakh crore, which was Rs 6.62 lakh crore in the same period last year. This increase shows that personal income levels have strengthened and tax compliance has improved.

Status of Securities Transaction Tax (STT)

During the period under review, the government received Rs 35,682 crore from Securities Transaction Tax (STT). However, this shows a slight decrease compared to last year’s Rs 35,923 crore. Nevertheless, the government has set a target of raising Rs 78,000 crore from STT in the financial year 2025–26.

Gross Direct Tax Collection, which includes both personal income tax and corporate tax, increased by 7% year-on-year to Rs 12.92 lakh crore in the current financial year till November 10. It was Rs 12.08 lakh crore in the same period a year ago. Before refund adjustments, total gross direct tax collections stood at more than Rs 15.35 lakh crore, an increase of 2.15 per cent over the previous year.

Government’s goal and experts’ opinion

The government has estimated the total direct tax collection for the current financial year (2025–26) to be Rs 25.20 lakh crore, which is 12.7 percent more than the previous year. Rohinton Sidhwa, partner, Deloitte India, said that these figures are proof that despite the reduction in interest rates, there has been strong growth in non-corporate tax collections. This is a sign of improvement in income levels and tax compliance in the Indian economy.

India’s tax collection system is continuously getting stronger. The increase in both corporate and personal taxes reflects that income growth, formalization and investment levels in the economy are improving, thereby maintaining momentum towards achieving the government’s revenue targets.

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Bihar Assembly Elections: Preparations for Bihar Assembly elections are in full swing. The first phase of voting is to be held on November 6 and this voting will be done on 121 seats. With this, candidates will have time till October 17 to file nominations. Also, scrutiny of nomination papers will take place on October 18. Those who want to withdraw their nomination will have to do so by October 20. As election excitement is increasing in the state, discussions have started on governance, development and finance. Meanwhile, today we will know how much is the government debt of Bihar and how much debt is actually owed by each resident.

Bihar’s government debt and per capita burden

The total debt of Bihar government has crossed Rs 3.02 lakh crore. This is more than the budget of Rs 3.16 lakh crore presented this year. According to the Union Finance Ministry, Bihar’s debt in March 2024 was approximately Rs 3.19 lakh crore. If we talk about Bihar Caste Census 2023, then according to it the total population of the state is around 13 crores. According to this, the loan per person is more than Rs 24000. The thing to note is that these are the figures of Caste Census 2023. This means this year this debt may be even higher. Meanwhile, the government has announced five major election schemes which are estimated to increase the financial liability of the state by Rs 10,000 crore annually.

Spending on development and infrastructure

However, all this money has been used on infrastructure and public welfare projects. ISRO’s Hariya data shows that night light, a measure of development derived from satellite observations, has increased 47% across the country in the last decade. In Bihar alone this increase has been a remarkable 400%. This means that government investment has been made in infrastructure, power and urban development. These figures show that despite increasing debt, the government has tried to invest in developmental initiatives.

How can debt be reduced?

To get rid of the increasing debt, Bihar needs to increase the revenue collection of its state very carefully. Income tax, withholding tax, stamp duty and registration can be streamlined through a single window system. Not only this but encouraging private sector development can generate additional revenue.

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