GST Collection Points to Robust Financial Markets
According to Assocham, the most definitive of the data is the record collection of Rs 1.15 lakh crore in the Goods and Services Tax (GST) during December. "The State-wise collection showed the fight back spirit in consumer confidence. Illustratively, the largest consumption State of Maharashtra, which was amongst the severely affected by the COVID-19 pandemic, has posted a healthy growth of seven per cent in GST collection; even as the total GST mop-up was up 12 per cent year-on-year," Assocham Secretary General Deepak Sood said . India's economy is showing decisive signs of a 'V-shaped' recovery in 2021 with the return of consumer confidence, robust financial markets, an uptick in manufacturing and exporters braving it out in the global market with never-say-die spirit, as per Assocham.
Tags : News/Views GST Assocham financial markets Covid19 pandemic