Karnataka registered a robust Gross State Domestic Product (GSDP) growth rate of 10.2% in FY 2023-24, significantly surpassing the national average of 8.2%, according to data from the Ministry of Statistics and Programme Implementation (MoSPI). “The state achieved this feat despite severe challenges, including the worst drought in a decade and a slowdown in global … Read more
Tamil Nadu and Karnataka have outpaced the all India average in GST collections in July, keeping up with their impressive performance in the first four months of this fiscal year. Telangana, on the other hand, has slipped into single digit year-on-year growth rate in July after clocking a double digit growth in April, May and … Read more
India’s economic recovery remained on track in August with goods and services tax (GST) collections staying in excess of ₹1 lakh crore while automakers sold more cars than in the year earlier despite a semiconductor and parts shortage. Petrol and diesel demand increased 14% and 16%, respectively, the railways carried 16.9% more freight and electricity … Read more
NEW DELHI: Transactions under the goods and services tax show that the economy is on a continued path of recovery even after a resurgence of Covid-19 forcing reimposition of movement restrictions and lockdowns in major parts of the country, finance secretary Ajay Bhushan Pandey has said. That and improved compliance aided GST collections to touch … Read more
(This story originally appeared in on Nov 03, 2020) As a most unusual year comes to an end, finance minister Nirmala Sitharaman is confident that the government’s interventions to revive the economy are working and says reforms will continue with a strong focus on infrastructure. Excerpts from a conversation with Sidhartha, Surojit Gupta and Rajeev … Read more
After the Union government agreed to borrow Rs 1.10 lakh crore on behalf of states to meet the GST shortfall, Congress leader P Chidambaram said Friday that the Centre has taken the “correct first step” and it should now work to re-establish trust with them. “I welcomed the change of heart,” he tweeted and asked … Read more
New Delhi: India’s economy has shown a remarkable resilience in the last few months, braving the impact of the coronavirus pandemic with lead indicators such as manufacturing PMI and exports returning to growth trajectory, Assocham said on Thursday. The chamber’s Assessment on State of Economy (AASE) report pointed towards a further pick up in the … Read more