<h1>India's 2021-22 Tax Revenues Exceed Estimates by Rs. 5 Lakh Crore, Marking 34% Growth from Previous Year.</h1> Tax revenues for the 2021-22 fiscal year exceeded Union Budget estimates by Rs. 5 lakh crore, reaching Rs. 27.07 lakh crore, a 34% increase from the previous year. This growth was driven by a 49% rise in direct taxes and a 20% increase in indirect taxes, reflecting economic recovery post-COVID and improved tax compliance through technology. The tax-GDP ratio reached a record 11.7%, with direct taxes at 6.1% and indirect taxes at 5.6%. Corporate taxes grew to Rs. 8.6 lakh crore, and GST revenues saw significant growth, indicating a robust economic rebound. Customs duties also increased by 48% following tariff structure rationalization.