India's tax revenue growth jump 9.1%

All thanks to robust growth for direct and indirect tax collection.

According to Morgan Stanely, tax revenue growth improved in September. The central government's aggregate gross tax collections growth improved in September to 9.1% YoY from 7.9% in August, driven by higher growth for both direct and indirect tax collection.

Here's more from Morgan Stanley:

But remained below budget estimate for April-September: However, on a FYTD basis, gross tax collection growth decelerated to 15% YoY in April-September from 18.2% YoY in April-August, staying below the budget estimate (BE) growth of 21% in F2013.

Similarly, growth in net tax collections (after transfer of share of state governments) decelerated to 15.3% YoY in April-September (vs. 20.8% in April-August). This too is below the budget estimate growth of 22%.

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