Sensex Today Live: Improved tax collections, manufacturing bolster India’s growth credentials
The Indian economy has seen a significant upturn in the December quarter, thanks to impressive tax revenues and a thriving manufacturing sector. In February, the central and state governments collected ₹1.68 trillion in Goods and Services Tax (GST) revenue, marking a 12.5% increase compared to the revenue collected in February 2023. This surge can be attributed to robust manufacturing activity and a strong economic growth trajectory. However, this figure was slightly less than the ₹1.72 trillion collected in January.
The improved tax collections and manufacturing sector performance are boosting India’s growth credentials, showcasing a positive outlook for the economy. This trend is expected to continue in the coming months, driving further economic expansion and development.
Investors and analysts are closely monitoring these developments, as they indicate a robust and resilient Indian economy that is poised for sustained growth. The positive momentum in tax collections and manufacturing is a testament to the country’s economic strength and potential for future prosperity.
