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Dip in India’s income for the 1st time in 20 yrs

According to reports, India’s corporate and income tax collection in 2019-20 stooped 8% from the previous fiscal to ₹10.27 lakh crore amid a slowdown and cut in corporate tax rates. It represents a shortfall of ₹1.42 lakh crore from the government’s revised target of ₹11.7 lakh crore. This is the first fall in direct tax collection in two decades.