Despite record tax mop-up, govt continues to borrow heavily, hits 46% of target for FY22: Report

Despite the second COVID-19 wave, overall Q1 tax collections rose 39 per cent to Rs 5.6 lakh crore, according to an analysis by Icra Ratings, which also expects the gross tax revenue to surpass the FY22 budget estimate of Rs 22.2 lakh crore.