GST collection over Rs 1 lakh cr, hints at rise in economic activity: Anurag Thakur

4 months ago 28
google news Flipboard

By: Express News Service | New Delhi |
March 24, 2021 4:05:10 am

Anurag Thakur

The government’s collection under the Goods and Services Tax exceeded the Rs 1 lakh crore target for five months in a row since October 2020, Minister of State for Finance Anurag Thakur told the Rajya Sabha on Tuesday.

Thakur added that the collection during this period is higher than what was collected the same time last year. “The monthly GST collection trend and the generation of e-way bills are clear indicators of increase in the economic activity,” he said.

On the economy, Thakur said V-shaped recovery is being seen as the third quarter GDP numbers are positive and trade is getting better.

Responding to another question Tuesday, Thakur also informed the House that the non-performing assets of banks declined to Rs 5.70 lakh crore in December 2020. He attributed this to measures taken by the government.

“There has been a reduction in gross NPAs. The NPAs – which stood at Rs 8.96 lakh crore in 2018 – have reduced to Rs 5.70 lakh crore in December 2020. Recovery of Rs 2.74 lakh crore was also made,” Thakur said while replying to a supplementary question in the Upper House.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest India News, download Indian Express App.

  1. Homepage
  2. India