Modi’s #GST Collection Surges 10% YoY to ₹1.65 Lakh Crore in December

By | January 2, 2024
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In a positive development for the Indian economy, the Goods and Services Tax (GST) collection in December 2023 witnessed a 10% year-on-year (YoY) increase, reaching ₹1.65 lakh crore. This achievement is being celebrated by supporters of the Modi government, who have been using the hashtag #ModiHaiToMumkinHai to highlight the administration’s efforts in driving economic growth.

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The significant growth in GST collection indicates a revival of economic activity and consumer spending. It reflects the confidence of businesses and consumers in the Indian economy, which is gradually recovering from the impact of the COVID-19 pandemic.

The increase in GST collection can be attributed to several factors, including the government’s efforts to simplify the tax structure and improve compliance. The introduction of the e-invoicing system and the implementation of the e-way bill system have helped streamline the tax collection process and reduce tax evasion.

Furthermore, the government’s focus on promoting digital transactions and formalizing the economy has also contributed to the rise in GST collection. The use of technology and digital platforms has made it easier for businesses to comply with tax regulations and has created a transparent and efficient tax system.

Another significant milestone for the Indian economy was achieved in December 2023, as annual passenger vehicle sales surpassed the 4 million mark. This achievement reflects the growing demand for automobiles in the country and highlights the resilience of the Indian automotive industry.

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The increase in passenger vehicle sales can be attributed to various factors, including the launch of new models, attractive financing options, and the overall improvement in consumer sentiment. The government’s push for electric vehicles and the implementation of incentives and subsidies have also played a role in driving sales.

Additionally, the Indian tourism sector witnessed a major boost in 2023, with over 50 lakh tourists visiting the Statue of Unity (SOU). The Statue of Unity, which is the world’s tallest statue, has become a popular tourist attraction and has contributed to the growth of tourism in the region.

The increase in tourist footfall at SOU is a testament to the efforts of the government in promoting tourism and developing infrastructure in the area. The development of hotels, transportation facilities, and tourist amenities has made it easier for travelers to visit the site and has created employment opportunities for the local population.

Overall, these achievements highlight the positive impact of the government’s policies on various sectors of the Indian economy. The increase in GST collection, passenger vehicle sales, and tourist footfall reflects the resilience and potential of the Indian economy, despite the challenges posed by the pandemic.

As the Modi government continues to implement reforms and promote economic growth, it is expected that the Indian economy will further strengthen and attract investments. The hashtag #ModiHaiToMumkinHai serves as a reminder of the government’s commitment to driving economic development and creating a prosperous future for India.

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@Shehzad_Ind said #ModiHaiToMumkinHai GST collection in December rises 10% YoY to ₹1.65 lakh crore livemint.com/economy/aprild… Milestone unlocked: Annual passenger vehicle sales in India surpass 4 million mark in CY23 economictimes.indiatimes.com/industry/auto/… Over 50 lakh tourists flock to SOU in 2023, breaking… twitter.com/i/web/status/1…

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