India sees record mutual fund SIP investments and rising tax revenues

India's investment in mutual fund systematic investment plans (SIPs) has reached a record high. In October 2024, SIP investments surpassed Rs 25,000 crore for the first time, totaling Rs 25,322.74 crore. Active SIP accounts also increased to 10.12 crore. At the same time, India's direct tax revenue has risen significantly. From April 1 to November 10, net tax collections reached Rs 12.1 lakh crore, a 15.4 percent increase from the previous year. Gross collections rose over 21 percent to Rs 15 lakh crore. These developments indicate a growing trend of individual investment and increased tax revenue, reflecting a strengthening Indian economy. The rise in both areas suggests a shift towards long-term financial strategies among citizens.