Monday, June 21, 2021
Home Economy and Finance Economy doomed? Sensex touches all time high and govt collects highest ever GST in...

Economy doomed? Sensex touches all time high and govt collects highest ever GST in March

The fact that GST collection has gone up despite the reduction in rate on various items, means that the business activities in the country is increasing at a steady rate

Opposition parties and a section of media keeps trying to project that the economy has suffered badly during the Modi government, but the data keeps proving them wrong. Today two different data points reveal a state of the economy which does not match with the narrative that opposition is trying to build up.

The total gross GST collection in March 2019 was ₹1,06,577 crore, which was highest since the introduction of GST. Out of total GST collection of ₹1,06,577 in March, CGST is ₹ 20,353 crore, SGST is ₹ 27,520 crore, IGST is ₹ 50,418 crore and Cess is ₹ 8,286, finance ministry informed.

An official statement issued by finance ministry said that this reflects an increase of 15.6% over GST collection in March 2018, which was ₹92,167 crore.

The average GST per month during the financial year 2018-19 was ₹ 98,114 crore, which is 9.2% higher than the average for FY 2017-18. These figures indicate that the revenue growth has been picking up in recent months, despite various rate rationalization measures.

Source: Ministry of Finance

The fact that GST collection has gone up despite the reduction in rate on various items, means that the business activities in the country are increasing at a steady rate, and more businesses are being brought under the tax regime.

The BSE Sensex also hit an all-time hit today, reaching the 39,110.68 and crossing the 39,000 for the first time. In the last 5 years, Sensex has gone up from 22000s to the current level, growing steadily over the years. The share markets are displaying bullish trends due to a positive outlook about the economy. The country has also experienced strong FII inflows, reflecting in the stock exchange indices. The Rupee has also recovered in recent times, and markets are expecting a rate cut from RBI.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

George Soros-funded University awards former Kerala health Minister KK Shailaja for her ‘commitment to public health service’

Former Kerala Minister KK Shailaja, who was dropped from cabinet after lelection, awarded by George Soros-funded University

Gujarat: Cow smugglers kill VHP Gaurakshak Hardik Kansara, nephew of district BJP president, 10 arrested

Ten individuals have been arrested in Gujarat on accusations of murdering Gaurakshak Hardik Kansara in Valsad district.

Coronavirus: Liberal privilege that sank Kerala. Here is what went wrong

The media will choose to wait strategically till it reaches Gujarat, for more effect. And the third wave begins “officially” when the spread reaches Uttar Pradesh. And then, it will all be the fault of “Gaumutra.”

Taliban rule: When Hindus in Afghanistan were forced to carry yellow badges like Jews in Nazi Germany

In a bid to undo years of suffering and persecution, the Indian government had issued long-term visas to 700 Hindus and Sikhs from Afghanistan in July last year.

On World Refugee Day, read how Germany, Sweden, and India bore the brunt of incoming refugees

While the United Nations has been advocating the inclusion of refugees, the question remains whether the incoming migrants are willing to assimilate with the culture of the host nation.

Twitter rewards an Islamist org, set to be banned by India, with a verified blue tick: Here is what PFI has done in the...

It is worth mentioning that the radical Islamic organisation Popular Front of India has been accused of involving in perpetrating terrorist attacks in India and carrying large scale communal riots in different parts of the country.

Recently Popular

Republic TV issues statement over Arnab Goswami’s disappearance from the news network: Here is what they said

Arnab Goswami was last seen on May 2 during a discussion on West Bengal assembly polls. He will make a return on Monday.

OBC benefits for Muslims: How WB Police’s recruitment drive has exposed how parties found a way to make religious reservations

The drive was meant to fill vacancies in the OBC-A category in the state. The list showed that apart from one or two individuals, all of them were Muslims.

Who is Vishal Jood? An Indian national arrested for taking on Khalistani extremists in Australia

Vishal Jood, the 24 yar old from Haryana, has been languishing in a jail in the down in the country for two months now.

Kerala madarsa teacher preaches “kill the ones who leave Islam” while taking online lecture for class 12 students

Kerala madarsa teacher caught encouraging class 12 students to take to violence against those who quits Islam as religion.

TISS research paper calls Kashmir ‘India occupied’, blames Indian Army for domestic violence in Kashmiri society

A dissertation paper by a student at TISS-Hyderabad has come under the scanner for calling Kashmir "India occupied Kashmir".
- Advertisement -

 

Connect with us

255,564FansLike
554,912FollowersFollow
24,400SubscribersSubscribe