<h1>Ministry of Finance Highlights Strong Economic Growth with 46.95% Increase in Direct Tax Collections in 2008-09.</h1> Reports suggesting an economic slowdown based on advance tax payments by companies during the 2008-09 fiscal year have been addressed by the Ministry of Finance. They clarified that direct tax collections from April to July 2008 totaled Rs. 71,648 crores, a 46.95% increase from the previous year. While advance tax payments grew by 24%, tax deducted at source (TDS) rose by 60.55%, indicating a shift rather than a slowdown. The Ministry emphasized that direct tax collection growth reflects a buoyant economy and cautioned against using advance tax growth rates alone to assess economic health.