<h1>Finance Ministry Sets 15% Direct Tax Growth Target for 2020, Aims to Collect Rs. 13.80 Lakh Crore.</h1> The finance ministry has set a 15% growth target for direct tax collection in the fiscal year 2020, aiming to collect Rs. 13.80 lakh crore, down from the current fiscal's 20% growth estimate. This target is deemed realistic given the increased tax base and past growth rates of 15% in 2016-17, 18% in 2017-18, and 19.76% in 2018-19. The growth in tax collection is attributed to the formalization and digitization of the economy, alongside reduced tax rates and simplified tax processes. The tax base has expanded significantly, with the number of tax returns filed increasing by 80% over five years.