SLOWER GST GROWTH, FEWER NEW PROJECTS ARE WARNING SIGNALS

RECENT data on the economy's performance seem to indicate India's growth story may be hitting the pause button.

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After an impressive show following the pandemic-period deceleration, a slowdown could now be on the cards. The GST collection for June 2024 was ₹1.74 lakh crore, a 7.7 percent increase from a year ago. This growth was slower than the 12.4 and 10 percent rise recorded in April and May, respectively. When seen in absolute terms with the previous months, with collections of ₹1.73 lakh crore in May and ₹2.1 lakh crore in April, the revenue line for the April-June quarter seems flat.

GST collections, which indicate the volume of goods and services sold, is a good indicator of the economy's performance.