Govt expects to meet ₹28.7 lakh crore tax target for FY27 despite excise shortfall

Net direct tax collections rose 18.3% year-on-year to ₹11.25 lakh crore by October 10.
GST revenue grew 14.7% to ₹2.04 lakh crore in September, crossing ₹2 lakh crore for the third month.
Petrol and diesel excise duty cuts may leave a revenue shortfall of over ₹1 lakh crore in FY27.
Higher direct tax, GST and customs collections are expected to offset the gap and meet the FY27 target.

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