The Bharatiya Janata Party on Tuesday said the economy was on the right track as the Goods and Services Tax (GST) collections in October had increased by about 10% compared to the same month last year.
Addressing a press conference at the party headquarters here, BJP spokesperson Gopal Krishna Agarwal said the GST data released on Sunday showed collections had crossed ₹1 lakh crore, a first since the COVID-19-related crisis began. He said the GST data as well as other indicators for October showed that the economy was getting back on track.
He said the Purchasing Managers’ Index was 58.9% in October, the highest month-on-month growth in 13 years. He said macroeconomic indicators pointed towards a “V-shaped recovery”.
Mr. Agarwal said Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman were working on making sure that the numbers for November are even better than in October.
A letter from the Editor
Dear reader,
We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.
Support Quality Journalism
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
