July 1 was as much a cause for concern, as it was a reason to celebrate for the government. While celebrating the second anniversary of goods and services tax (GST), the government confronted the fact that growth in monthly revenue in June was the lowest achieved in the last nine months, at 4.5 per cent year on year.
But a deeper look into the available data reveals that the Centre’s and states’ GST revenues are slowly converging, courtesy a faster growth in the Centre’s GST revenue in comparison to states’ GST revenue. States have suffered a ...
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