GST Revenue Surges: ₹1.95 Lakh Crore Haul in July
Official data released on Friday revealed a robust 7.5 per cent increase in Goods and Services Tax (GST) collections for July. The gross collection touched ₹1.95 lakh crore, significantly higher than the ₹1.82 lakh crore recorded in July 2024.
This positive trend reflects a healthy growth in economic activity across various sectors. The increased tax revenue is a welcome sign for the government’s fiscal health.
The higher GST collections indicate a strengthening consumer demand and improved compliance. This boost to government coffers could pave the way for increased public spending on crucial infrastructure projects and social welfare schemes. The positive impact on the economy will be keenly observed in the coming months.
