Finance Budget alarm: Direct tax collection contracts 6.1% to Rs 7.26 lakh crore Updated : January 25, 2020 12:14 PM IST Sources in the know told CNBC-TV18 that the direct collections stood at Rs 7. 26 lakh crore against Rs 7.73 lakh crore recorded during the same period last year. The July 5 budget for FY19-20 had mentioned a direct tax collections target of Rs 13.35 lakh crore. However, all major regions like Mumbai, Delhi, Kolkata, Chennai, Bengaluru, and Hyderabad have recorded negative growth in collections. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.