The Finance Minister today expressed hope that with the economy poised to grow at 8.5 percent during the current fiscal, the tax growth in the country will regain its past buoyancy. He said that he expects a double-digit contribution of Direct taxes to GDP. Speaking at a conference to mark 150 years of introduction of Income Tax in New Delhi today, he said that the direct tax code, DTC which is in the final stage of drafting, will rewrite the existing direct tax laws and lead to simplification and rationalization of laws and procedures in this regard. He said that DTC will provide a simple and broad-based regime of lower tax rates, better compliance and result in reducing litigation. He said it will also provide a conducive environment for investment and make India an attractive destination for investment.