Globalization and liberalization have become order of the day. To survive and grow in this economic order rational and competitive tax policies are being adopted by every country. India has also fallen in line with the requirement and has been initiating modifications in direct and indirect taxes. The important objective of the study is to know the Share of Direct and Indirect Taxes in Total Taxes in India and to find out the Growth Rate of Different Taxes in India. The share of direct taxes has increased during liberalized era and reached as high as 37.67 percent in 2009-10 and declined to 33.03 percent in 2012-13. In contrast the performance of indirect taxes declined to 66.97 percent in 2012-13 from 83.80 percent in 1991-92. The post-liberalization reveals that, the share of direct taxes in the total tax revenue has been continuously increasing. However, India still lags behind developed countries and OECD countries where direct taxes constitute two-third of the total taxes. The growth rate of direct and indirect taxes during post-globalization period is positive with an exception of direct taxes during the year 1998-99 in which year it is negative by 2.81 percent. However, the percentage growth rate of total tax is positive all along and it is in double digits except the six different years in which the growth rate if less than 10 percent.

KEY WORDS: Liberalization, Direct and Indirect Tax, tax system, GST, Direct Tax Reforms