IMF ED KV Subramanian praises India's GST revenue and robust GDP growth

Executive Director of the International Monetary Fund (IMF) and former Chief Economic Advisor to the Government of India, KV Subramanian, has commended India's robust economic indicators, particularly highlighting the impressive GST (Goods and Services Tax) revenue collection in November 2023.

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Subramanian expressed optimism about achieving a monthly GST collection of two lakh crores of rupees within the next 1.5-2 years, attributing this success to the implementation of sound tax policies by the government. Speaking on the matter, Subramanian stated, "I think, going by the signs so far, in about 1.5-2 years, we can expect to touch two lakh crores of rupees in a month. I think the GST collection doing well is part of the overall phenomenon of good policy that has been implemented. So overall, I think the good performance on the GST side is evidence of good policy on taxation."

The positive performance in GST collections, according to Subramanian, reflects the broader success of India's well-crafted taxation policies, underscoring the country's commitment to effective fiscal management.