India’s burgeoning tax receipts have surprised those who termed the pandemic as a death knell for India’s struggling economy. Rarely has an economic recovery been so dramatic as the one being seen now.

That India’s tax collection is on track to beat pandemic hit FY 2021 is in itself surprising. Even more surprising is that they are well positioned to beat the collections of FY 2020 which was a regular growth year. Indeed, India is in the middle of an unprecedented tax revenue generation cycle.