Downturn blues ease as Q3 advance tax mop-up jumps 16.8%

Advance tax collections for Q3 surged 16.8% to ₹3.14 lakh crore, signaling a potential economic rebound after a recent slowdown. Total collections for the fiscal year reached ₹7.5 lakh crore, a 20.19% increase. Economists suggest this growth indicates a recovery from the 5.4% GDP growth in the previous quarter.