GST Collection: Earnings of Modi government started increasing, second-highest collection in GST history
In the midst of the festive season, good news has come for the Modi government on the GST collection front. After the implementation of GST in the country, the second-highest GST collection has happened in October-2021.
Sunil Shukla 
In the midst of the festive season, good news has come for the Modi government on the GST collection front. After the implementation of GST in the country, the second-highest GST collection has been done in October-2021. Earlier, in April-2021, the highest record GST collection was Rs 1.41 lakh crore.
Actually, the GST collection in October-2021 has been Rs 1,30,127 crore. This is the second-highest collection figure since the implementation of GST. On a year-on-year basis, the GST collection in October grew by 24 percent. Whereas in comparison to October of the financial year 2019-20, an increase of 36 percent has been registered in the tax collection. At the same time, in the last month i.e. September-2021, the GST collection was Rs 1.17 lakh crore.
signs of recovery in the economy
Actually, at the beginning of the current financial year, the country was facing the second terrible wave of Kovid-19. This had also affected the economy of the country, but now there are signs of a sharp improvement in the economy. October is the fourth consecutive month when the GST collection has exceeded Rs 1 lakh crore.
The GST collection in October-2021 stood at Rs 1,30,127 crore. Whereas in September, GST of Rs 1.17 lakh crore was received. According to the data of the Finance Ministry, the government's GST collection in August was Rs 1.12 lakh crore. Whereas in July 2021 it was Rs 1.16 lakh crore. Earlier in June, it was only Rs 92,849 crore. Although in April and May also it was more than Rs 1 lakh crore.
Rapid economic activities on track in the vaccination program
The economy is improving rapidly in the Corona Vaccination Program. Also, those sectors are being opened, which were interrupted for the last few months due to Corona. Along with this, the government has taken many big decisions in the last months to improve the economy. Due to which economic activities are getting back on track.
PMI also improved
In addition, the monthly IHS Markit India Manufacturing Purchasing Managers' Index (PMI) saw an expansion for the fourth consecutive month in October, indicating the strongest improvement in operating conditions since February. This is the fourth consecutive month after February when these figures are seeing an increase.
According to the PMI survey released on November 1, the manufacturing PMI of the country stood at 55.9 in the month of October. At the same time, it stood at 53.7 in September and 52.3 in August. Looking at the PMI standard, a mean above 50 means that the economy is expanding. Whereas figures below 50 indicate a decline in the economy.
