Data | India's GDP was on a downward slope even before COVID-19 wreaked havoc
4 years, 3 months ago

Data | India's GDP was on a downward slope even before COVID-19 wreaked havoc

The Hindu  

Even before the COVID-19 outbreak, which led to a shutdown of the economy and made way for the worst contraction of India's GDP in decades in the April-June quarter, the economy was already witnessing a slowdown. Decelerating GDP growth, significant decrease in industrial output, fall in tax revenues and a massive reduction in power demand were all recorded well before the impact of the lockdown was recorded. GDP growth GDP growth has been on a constant downward slope since Q4 FY17, and slowed to a 11-year-low of 3.1% in Q4 FY20. Click to remove AMP mode Industries affected Industrial activity had also taken a hit well before the pandemic set in, with the output of the eight core sectors and the index of industrial production contracting between August and October 2019. image/svg+xml Tax collections The chart shows growth in gross tax revenue, which decelerated to -19.8% y-o-y last December. image/svg+xml The next chart shows growth in GST collections, which had also been slowing since early 2019, though it recovered towards the end of the year.

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History of this topic

GST mop-up fourth highest ever but red flags in laggard states
3 weeks, 2 days ago

GST mop-up fourth highest ever but red flags in laggard states

Hindustan Times  

The Goods and Services Tax revenue in November grossed over ₹1.82 lakh crore, the fourth highest monthly collection ever that also crossed the ₹1.80 lakh crore mark for the fifth time in 88 months since July 2017, despite major states such as Andhra Pradesh, Rajasthan and Chhattisgarh showing a dip in growth. The goods and services tax revenue in November …

India's Q2 GDP growth slows to 5.4 per cent, hits 18-month low
3 weeks, 4 days ago

India's Q2 GDP growth slows to 5.4 per cent, hits 18-month low

India TV News  

In a significant development, India's economic growth decelerated to 5.4% in the July-September quarter of the current fiscal year, marking its slowest pace in nearly two years. Despite the slowdown, India retained its position as the fastest-growing major economy, surpassing China's 4.6% GDP growth in the same quarter. Key sectoral insights According to data from the National Statistical Office, the …

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data
3 weeks, 4 days ago

India's GDP growth slows to 5.4% in Q2 2024-25: Govt data

Hindustan Times  

India's Gross Domestic Product growth slowed down to 5.4% during the second quarter of the financial year 2024-25 due to the falling growth rate in manufacturing, consumption, and mining. India's GDP growth slows to 5.4% in Q2 2024-25, govt data shows In comparison, the GDP growth rate was 8.1% in the second quarter of 2023-24, according to government data released …

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs
1 month, 3 weeks ago

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs

The Hindu  

GST revenue trends have been volatile this year, with growth in gross and net receipts exceeding that of the previous year's highest points, but falling short of the previous year's overall growth. While the year started with a strong surge in April, subsequent months have shown a decline in growth. The latest GST receipts indicate a positive trend, but it …

GST collections hit a 40-month low in September 2024
2 months, 3 weeks ago

GST collections hit a 40-month low in September 2024

The Hindu  

Growth in India’s Gross Goods and Services Tax collections slumped to a 40-month low of 6.5% in September, with revenues at ₹1,73,240 crore, about 1% lower than the tally in August. Gross domestic revenues were up 5.9% in September, with the uptick moderating 4.5% higher after adjusting for refunds, provisional numbers from the Central Board of Indirect Taxes and Customs …

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters
3 months, 3 weeks ago

India's GDP growth moderates to 6.7% in Q1 2024-25, lowest growth in five consecutive quarters

Hindustan Times  

India's Gross Domestic Product moderated to 6.7% during the first quarter of the financial year 2024-25, compared to the 8.2% growth seen in the same quarter of the previous year, according to the data released by the Ministry of Statistics and Programme Implementation on Friday, August 30, 2024. India's GDP moderates to 6.7% in Q1 2024-25 {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} …

At 4%, India's core sector growth slowest in 20 months: Govt data
4 months, 3 weeks ago

At 4%, India's core sector growth slowest in 20 months: Govt data

Business Standard  

Electricity generation saw a 7.7 per cent increase, which was lower than the 13.7 per cent growth in May but higher than the 4.2 per cent growth in June 2023. “With the onset of the monsoon, electricity growth reverted to single digits after two months, although it remained healthy at 7.7 per cent. Given the dip in core sector growth, …

Indian economy's outlook bright, FY25 growth expected at 6.5-7%: Economic Survey
5 months ago

Indian economy's outlook bright, FY25 growth expected at 6.5-7%: Economic Survey

India Today  

The Economic Survey 2023-24 that was released by the Ministry of Finance on Monday projected a real GDP growth of 6.5-7% for the financial year 2024-25. "The Survey conservatively projects a real GDP growth of 6.5–7 per cent, with risks evenly balanced, cognisant of the fact that the market expectations are on the higher side," said the Economic Survey 2023-24. …

Positive on GDP growth, working to bring inflation under control: RBI Governor Shaktikanta Das
5 months, 4 weeks ago

Positive on GDP growth, working to bring inflation under control: RBI Governor Shaktikanta Das

Live Mint  

RBI Governor Shaktikanta Das, speaking at the 188th AGM of the Bombay Chamber of Commerce & Industry in Mumbai, said that India is on the verge of a significant structural shift in its growth trajectory and is confident that GDP growth will touch 7.2% in the ongoing financial year. Das further mentioned that India's GDP annual growth rate is moving …

Move ahead: On GST and reform
6 months ago

Move ahead: On GST and reform

The Hindu  

Revenues from the Goods and Services Tax, which completes seven years at the end of this month, hit a record high of ₹2.1 lakh crore in April that typically sees higher inflows due to a year-end compliance rush. Although gross revenues from domestic transactions grew 15.3%, accelerating from a 13.4% rise a month earlier, revenues from goods imports dipped for …

In fresh high, gross GST revenues shoot past ₹2.1 lakh crore in April
7 months, 3 weeks ago

In fresh high, gross GST revenues shoot past ₹2.1 lakh crore in April

The Hindu  

Year-end compliances lifted India’s gross Goods and Services Tax revenues past a record ₹2.1 lakh crore in April, reflecting a 12.4% growth over the previous highest tally of ₹1.87 lakh crore in the same month last year. Finance Minister Nirmala Sitharaman attributed the ₹2 lakh crore-plus GST revenues in April to “the strong momentum in the economy and efficient tax …

India's GDP grew by 8.4 per cent in December quarter, surpassing expectations
9 months, 3 weeks ago

India's GDP grew by 8.4 per cent in December quarter, surpassing expectations

Hindustan Times  

Indian economy grew by 8.4 per cent in October-December 2023 against 4.3 per cent a year ago, government data showed on Thursday. India's GDP grows by 8.4 per cent in December quarter It had projected a growth of 7.3 per cent for the current fiscal in its first advance estimates released earlier in January 2024. Earlier in the day, the …

Q3 GDP Growth Likely to Moderate to 6% Vs 7.6% In Q2 FY24: ICRA
10 months ago

Q3 GDP Growth Likely to Moderate to 6% Vs 7.6% In Q2 FY24: ICRA

News 18  

The GDP growth in the third quarter ended December 2023, the official data of which is set to be released on Thursday, February 29, is likely to moderate to 6 per cent year-on-year, against 7.6 per cent in Q2 FY2024, according to a report by rating agency ICRA. Aditi Nayar, chief economist and head at ICRA Ltd, said, “Lower volume …

January records 2nd highest monthly GST revenue at ₹1.72 L cr
10 months, 3 weeks ago

January records 2nd highest monthly GST revenue at ₹1.72 L cr

Hindustan Times  

Goods and Services Tax revenues surpassed ₹1.72 lakh crore in January, the second highest monthly collection and the third over the ₹1.70 lakh crore threshold, data released on Wednesday showed, with experts attributing the high number to the resilience of the Indian economy and better tax compliance. On average this financial year, the monthly GST collection has been above ₹ …

India's power consumption grows nearly 8% in April-December period
11 months ago

India's power consumption grows nearly 8% in April-December period

The Hindu  

Power consumption in India witnessed an on-year rise of nearly 8% to 1,221.15 billion units during the April-December period of this fiscal, indicating a surge in economic activities. Change in power consumption patterns The Power Ministry had estimated the country's electricity demand to touch 229 GW during summer in 2023. They said power consumption grew in August, September, and October, …

GST revenues reveal a dissonance in consumption growth across States
11 months, 2 weeks ago

GST revenues reveal a dissonance in consumption growth across States

The Hindu  

Amid worries about weak consumer spending trends, Goods and Services Tax revenues for the first nine months of 2023-24 reveal a dissonance in consumption growth across States, with Gujarat, West Bengal and Andhra Pradesh among a dozen-odd States that are seeing weaker growth. Among the 20 largest States that account for nearly 97% of State GST collections, two large States, …

Growth signals: On GST revenues
11 months, 3 weeks ago

Growth signals: On GST revenues

The Hindu  

The Goods and Services Tax has yielded close to ₹1.65 lakh crore in gross revenues in the last month of 2023. The first nine months of 2023-24 have clocked a 12% rise in GST collections, with the monthly intake averaging ₹1.66 lakh crore, from ₹1.49 lakh crore in 2022-23. The Budget had factored in monthly GST revenues of around ₹1.59 …

GST revenue growth dips to a 3-month low in December
11 months, 3 weeks ago

GST revenue growth dips to a 3-month low in December

The Hindu  

India’s Goods and Services Tax revenues crossed ₹1,64,800 crore in December 2023, with year-on-year growth slowing to a three-month low of 10.3% from a 15.1% rise in the previous month. December’s GST kitty, for transactions undertaken in November 2023, is about 1.8% lower than the nearly ₹1.68 lakh crore collected a month earlier, which marked the third highest monthly receipts …

Gross GST collection rises by 12% to Rs 14.97 lakh crore in during April-December 2023 period
11 months, 3 weeks ago

Gross GST collection rises by 12% to Rs 14.97 lakh crore in during April-December 2023 period

India TV News  

Gross GST collection: The gross GST collection has jumped up by 12 per cent to Rs 14.97 lakh crore in the April-December 2023 period, the Finance Ministry informed on Monday. "During the April-December 2023 period, gross GST collection witnessed a robust 12 per cent y-o-y growth, reaching Rs 14.97 lakh crore, as against Rs 13.40 lakh crore collected in the …

India's power consumption grows nearly 9% to 1,099.90 billion units in April-November
1 year ago

India's power consumption grows nearly 9% to 1,099.90 billion units in April-November

The Hindu  

Power consumption has increased by nearly nine per cent to 1,099.90 billion units in the country during April-November this fiscal compared to the same period a year ago, showing a surge in economic activities. Industry experts said that around nine per cent growth in power consumption in the first eight months of this fiscal year shows buoyancy in the economy. …

GST collection crosses Rs 1.6 lakh for 6th time in current fiscal
1 year ago

GST collection crosses Rs 1.6 lakh for 6th time in current fiscal

Deccan Chronicle  

New Delhi: Crossing the Rs 1.6 lakh crore mark for the sixth time in the current financial year, the goods and services tax or GST revenue collections for November 2023 jumped 15 per cent to nearly Rs 1.68 lakh crore on an annual basis. As per the statement, the GST revenue collection for November 2023 at Rs 1,67,929 crore records …

GST revenue growth slowed to 10.2% in September
1 year, 2 months ago

GST revenue growth slowed to 10.2% in September

The Hindu  

Growth in India’s gross Goods and Services Tax revenues slowed to a 27-month low of 10.2% in September, from around 10.8% in the previous two months. While the Finance Ministry did not specify the extent of decline in its statement, back-of-the-envelope calculations show that GST revenues from goods imports dropped 0.11% from last September. Slowest growth in 27 months The …

India’ GDP growth likely at 8.5% in first quarter: Icra
1 year, 4 months ago

India’ GDP growth likely at 8.5% in first quarter: Icra

Live Mint  

Icra Ratings which released a report on Tuesday said that India's economic growth will accelerate to 8.5% in the April-June period of the current fiscal from the 6.1% growth rate witnessed in the preceding January-March quarter. Nayar said erratic rainfall, narrowing differentials with year-ago commodity prices, and possible slowdown in momentum of government capex "as we approach the Parliamentary elections …

GST revenues register three-month high in July
1 year, 4 months ago

GST revenues register three-month high in July

The Hindu  

India’s gross revenues from the Goods and Services Tax hit a three-month high to cross ₹1.65 lakh crore in July. Revenues from domestic transactions and services imports grew 15% in July, which marked the fifth occasion that GST revenues have crossed the ₹1.6-lakh-crore mark during a month. Overall GST Compensation Cess levies, which will continue till at least March 2026 …

India's current account deficit dips to 0.2% of GDP in Q4 FY23: RBI data
1 year, 5 months ago

India's current account deficit dips to 0.2% of GDP in Q4 FY23: RBI data

India TV News  

According to RBI data released on Tuesday, India's current account deficit decreased to USD 1.3 billion, or 0.2% of GDP, during the January-March quarter of FY23. "India's CAD decreased to USD 1.3 billion in Q4:2022-23 from USD 16.8 billion in Q3:2022-231, and USD 13.4 billion a year ago," the Reserve Bank stated. The trade deficit decreased to USD 52.6 billion …

India’s GDP expanded 6.1% in 2022-23’s last quarter
1 year, 6 months ago

India’s GDP expanded 6.1% in 2022-23’s last quarter

The Hindu  

India’s GDP growth accelerated to 6.1% in the January to March 2023 quarter, lifting the economy’s uptick in 2022-23 to 7.2% from the 7% estimated earlier, according to the provisional national income data released by the National Statistical Office on Wednesday. The higher-than-expected GDP growth last year could also temper growth expectations for this year, which the government and central …

GDP growth may cross 7% in 2022-23: RBI Governor
1 year, 7 months ago

GDP growth may cross 7% in 2022-23: RBI Governor

The Hindu  

India’s GDP growth in 2022-23 may well surpass the 7% estimate, while retail inflation is likely to go below the 4.7% mark this month, and gross non-performing assets in the banking system have likely dipped further in the January to March 2023 quarter, Reserve Bank of India Governor Shaktikanta Das said on Wednesday. “I will not be surprised if India’s …

Year-end compliances lift GST revenues to record ₹1.87 lakh crore in April
1 year, 7 months ago

Year-end compliances lift GST revenues to record ₹1.87 lakh crore in April

The Hindu  

India’s gross GST revenues hit a record high in April at ₹1,87,035 crore, 12% higher than the same month last year which had clocked the previous highest tax tally of ₹1.67 lakh crore. GST Compensation Cess collections also hit a fresh record of ₹12,025 crore in April, which included about ₹900 crore collected from imports of goods. Central GST collections …

India Inc's topline growth in Q4FY23 to halve to 10-12%: Report
1 year, 8 months ago

India Inc's topline growth in Q4FY23 to halve to 10-12%: Report

The Hindu  

India Inc. is likely to report a halving of revenue growth in the fourth quarter of FY23, a credit rating agency said on Thursday, as companies start reporting their financials. Revenue growth will come down to 10-12% as against 22.8% for the January-March period in the year-ago, Crisil's Market Intelligence and Analytics arm said. Consumer discretionary products such as airlines, …

India’s industrial production rises by 5.2 in january 2022
1 year, 9 months ago

India’s industrial production rises by 5.2 in january 2022

The Hindu  

India’s industrial output grew 5.2% in January, slightly faster than the 4.7% rise in December 2022, bolstered by a double-digit surge in electricity generation for the third successive month, even as manufacturing output growth stayed tepid at 3.7%. While both segments’ uptick was buoyed by low sub-2% growth rates a year ago, infrastructure and construction goods’ output grew 8.1% this …

Tax transitions: The Hindu Editorial on GST revenue trends
1 year, 9 months ago

Tax transitions: The Hindu Editorial on GST revenue trends

The Hindu  

The nearly ₹1.5 lakh crore of gross Goods and Services Tax collections in February are notable from several aspects. First, they mark the 12th successive month that GST revenues have stayed over ₹1.4 lakh crore, and the fourth highest single month kitty since the launch of the GST regime. The average monthly GST collections in the first 11 months of …

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023
1 year, 10 months ago

After 'smart recovery' from Covid, what do MSMEs expect from Budget 2023

Hindustan Times  

The micro, small and medium enterprises sector has posted smart recovery from pandemic-induced shock, with the goods and services tax paid by the sector in fiscal year 2022 exceeding the pre-pandemic level in FY20, the Economic Survey tabled in parliament on Tuesday noted. The Economic survey highlighted Covid had a significant negative impact on the sector’s performance. Economic survey highlighted …

GST revenue up 15% to nearly ₹1.50 lakh crore
1 year, 11 months ago

GST revenue up 15% to nearly ₹1.50 lakh crore

Hindustan Times  

New Delhi: The Goods and Services Tax revenue in December 2022 recorded a 15.2% year-on-year jump at over ₹1.49 lakh crore — the third highest collection ever, crossing the ₹1.40-lakh crore benchmark for the 10th consecutive month — on robust business activities despite global headwinds. ₹1.5 lakh crore seems to be the new normal even after peak festive sales are …

India's electricity consumption grows 14 per cent in November; experts say it indicates sustained recovery
2 years ago

India's electricity consumption grows 14 per cent in November; experts say it indicates sustained recovery

India TV News  

Indicating sustained economic recovery, the government data showed India's power consumption logged a double-digit growth of 13.6 per cent to 112.81 billion units in November 2022 compared to the year-ago period. The robust growth of power consumption in the month mainly indicates an increase in economic activities as generally it remains subdued in November. Experts say power consumption and demand …

Why is GST revenue running ahead of overall economy?
2 years, 1 month ago

Why is GST revenue running ahead of overall economy?

Live Mint  

Revenues from the goods and services tax —the countrywide indirect tax since June 2017—have been on a tear. According to the GST Council, which sets GST rates, and comprises Central and state governments: “Better reporting coupled with economic recovery has been having positive impact on GST revenues on a consistent basis." Excluding GST revenues from imports from total GST revenues, …

What is the state of the Indian economy today?
2 years, 3 months ago

What is the state of the Indian economy today?

Hindustan Times  

India’s Gross Domestic Product expanded by 13.5% on a year-on-year basis in the first quarter of the fiscal year 2023, largely in line with our projections. GDP growth in the previous quarter was driven by a surge in consumption demand, with private final consumption expenditure surging by 25.9% YoY — this alone contributed as much as 14 percentage points to …

For sixth month in a row, GST revenues cross ₹1.4 lakh crore mark
2 years, 3 months ago

For sixth month in a row, GST revenues cross ₹1.4 lakh crore mark

The Hindu  

India’s gross revenues from the Goods and Services Tax were ₹1,43,612 crore in August, 28% higher than a year ago. This is the sixth successive month when GST revenues have been over the ₹1.4 lakh crore mark, the Finance Ministry said, stressing that GST collections have risen 33% till August this year, compared to the same period of 2021-22, and …

Indian economy to grow over 7 pc in FY23, says finance secretary
2 years, 3 months ago

Indian economy to grow over 7 pc in FY23, says finance secretary

India TV News  

Indian economy growth: Indian economy is on course for a 7-plus per cent growth rate in the current fiscal year, finance secretary T V Somanathan said on Wednesday. Commenting on the first quarter GDP growth rate of 13.5 per cent, he said the economy is 4 per cent above pre-Covid levels. Allaying concerns of high imports denting the fiscal architecture, …

GDP growth projected to spike to four-quarter high 13.0 per cent in Q1 FY2023, says ICRA
2 years, 4 months ago

GDP growth projected to spike to four-quarter high 13.0 per cent in Q1 FY2023, says ICRA

India TV News  

Highlights GDP growth is expected to expand in double digits at 13 per cent in Q1FY23 It's due to low base in contact-intensive sectors following widening vaccination coverage: ICRA Gross value added at basic price in Q1FY23 is projected at 12.6 per cent from 3.9 per cent earlier Business news : GDP growth is expected to expand in double digits …

July GST collections recorded at Rs 1.49 trillion; check monthly trends, state-wise collections here
2 years, 4 months ago

July GST collections recorded at Rs 1.49 trillion; check monthly trends, state-wise collections here

Firstpost  

For five months in a row now, the monthly GST revenues have been more than Rs 1.4 lakh core, showing a steady increase every month. New Delhi: Goods and Services Tax collection for the month of July was recorded at Rs 148,995 crore, which is 28 percent higher as compared to the same month last year. The revenues for July …

India’s power demand set to surge 6% for 2nd straight year: Crisil
2 years, 5 months ago

India’s power demand set to surge 6% for 2nd straight year: Crisil

Live Mint  

NEW DELHI: India's demand for power is likely to grow over 6% for the second consecutive year in FY23, according to a Crisil report. The current fiscal will also be the second year of power demand growing above pre-pandemic levels and the long-period average of 5%. “The first quarter may have accounted for 75% of the expected incremental power demand …

Survey set to gauge success of govt electricity schemes
2 years, 5 months ago

Survey set to gauge success of govt electricity schemes

Live Mint  

The union power ministry plans to commission a socioeconomic survey by a third party agency of its marquee schemes aimed at universal access to electricity, seeking to capture what improvements have been made by these projects. The survey will focus on the Pradhan Mantri Sahaj Bijli Har Ghar Yojana and Deen Dayal Upadhyaya Gram Jyoti Yojana, said two government officials …

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%
2 years, 6 months ago

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%

News 18  

India’s gross domestic product grew 4.1 per cent in the fourth quarter of the financial year 2021-22. For the full financial year 2021-22, the GDP saw a growth of 8.7 per cent. The GDP growth of 8.7 per cent in 2021-22 is significantly better than last year’s 6.6 per cent contraction and points towards a recovery from the pandemic-driven slowdown. …

DC Edit | Economy on the upswing?
2 years, 7 months ago

DC Edit | Economy on the upswing?

Deccan Chronicle  

The Goods and Services Tax collection in April, which crossed the Rs.1.5 lakh crore mark for the first time, would have brought cheer in North Block, especially as it comes in the midst of all-pervading uncertainty. According to a release of the Union ministry of finance, the GST revenue was Rs.1,67,540 crore in April, which includes Rs.36,705 crore collected on …

GST collection touches all-time high amid inflation, global volatility | Here's how
2 years, 7 months ago

GST collection touches all-time high amid inflation, global volatility | Here's how

India Today  

The Goods and Services Tax revenue collection in India has touched an all-time high of Rs 1.68 lakh crore in April. The gross GST collection in April 2022 is an all-time high and Rs 25,000 crore more than the previous highest collection of Rs 1.42 lakh crore recorded in March this year. Deloitte India Partner MS Mani said while the …

GST collection rises to all-time high of Rs 1.42 lakh cr in March
2 years, 8 months ago

GST collection rises to all-time high of Rs 1.42 lakh cr in March

India TV News  

Highlights GST collection in March touched an all-time high of over Rs 1.42 lakh crore This is an increase of 15% annually, on the back of rate rationalisation and anti-evasion steps Previous high was in January 2022 of over Rs 1.40 lakh crore GST collection in March touched an all-time high of over Rs 1.42 lakh crore, an increase of …

GDP grew 5.4% in Q3, as construction and manufacturing take a hit
2 years, 9 months ago

GDP grew 5.4% in Q3, as construction and manufacturing take a hit

The Hindu  

India’s gross domestic product is estimated to grow at 8.9% in 2021-22 instead of 9.2% estimated earlier, with year-on-year growth in the October to December 2021 period slipping to 5.4% from 8.5% in the previous quarter, as per the second advance national income estimates released on Monday. India’s GDP had shrunk 6.6% in 2020-21, with the first half of the …

State of Indian economy, according to the Economic Survey 2022
2 years, 10 months ago

State of Indian economy, according to the Economic Survey 2022

Business Standard  

The annual pre-Budget Economic Survey, compiled by Principal Economic Advisor Sanjeev Sanyal this year, starts by highlighting India’s agile policy response to the Covid-19 shock. The Economic Survey projects India’s GDP to grow 8-8.5% next fiscal, supported by widespread vaccine coverage, gains from supply-side reforms, robust export growth and the availability of fiscal capacity to ramp up capital expenditure when …

₹1.29L-cr GST kitty in Dec indicates robust economic activity
2 years, 11 months ago

₹1.29L-cr GST kitty in Dec indicates robust economic activity

Hindustan Times  

New Delhi: The Goods and Services Tax collection in December last year was ₹1,29,780 crore, marginally lower than the ₹1.30 lakh crore figure achieved in the two preceding months, but a 12.7% increase on an annual basis, official data showed on Saturday. The December collections were marginally lower than ₹1.31 lakh crore in November, government data showed, but were 25.8% …

India’s GDP grows 8.4% in July-September: Govt
3 years ago

India’s GDP grows 8.4% in July-September: Govt

Live Mint  

The Indian economy expanded 8.4% in the September quarter, surpassing its pre-pandemic size, as vaccination picked up pace and services activity returned to normal after the disruptions caused by the devastating second wave of the pandemic in the June quarter. “India is likely to have double-digit growth in FY22, 6.5-7% next year and over 7% thereafter,” Krishnamurthy Subramanian, chief economic …

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