Government faces first fall In direct taxes in at least two decades

India's corporate and income tax collection for the current year is likely to fall for the first time in at least two decades, over half a dozen senior tax officials told Reuters, amid a sharp fall in economic growth and cut in corporate tax rates. PM Narendra Modi's government was targetting direct tax collection of Rs 13.5 lakh crore for the year ending March 31 - a 17 percent increase over the prior fiscal year.