India’s net direct tax collections rose 5.12% to about Rs 23.40 lakh crore as of March 31. The update signals improving revenue inflows for the government, though the headline growth rate hints that the underlying tax performance and compliance trends could be more complex than they first appear.
India’s 2024 spectrum auction starts today after multiple delays, offering airwaves worth Rs 96,317.65 crore. The government expects roughly Rs 10,000 crore from the sale, but early estimates point to only about 17% of the spectrum value being taken up, potentially the weakest response since 2014. The session could shape 5G rollout economics.
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