India ushered in the era of economic liberalization and reforms in the year 1991.During the last two decades,the Indian economy has grown at 6% on an average Y-o-Y basis.The period of economic growth also saw Indian direct tax collections increase at an average yearly growth of 20% (between 2002-03 to 2013-14),far exceeding the growth in GDP, mainly on account of the lowering of the tax rates and the use of the Information Technology in the tax administration and ...
