GST collections for October this year were over Rs 1.05 lakh crore, said BJP (Representation)
New Delhi:
Citing an increase in GST collections, the highest purchasing managers index (PMI) in manufacturing and data on other economic parameters for October, the BJP said on Tuesday that the numbers show that under the leadership of Prime Minister Narendra Modi, the country’s economy is moving in the right. direction and is on an uptrend.
The Modi government is focused on its economic reform agenda and striving to achieve its goal of turning India into a $ 5,000 billion economy, said BJP spokesman Gopal Krishan Agarwal.
Speaking to a press conference at BJP headquarters, he said the Goods and Services Tax (GST) collections for October this year were over 1.05 lakh crore. “This shows that our economy is back on the right track,” he said.
Income for the month is 10 percent higher than Rs 95,379 crore collected in the same month last year.
Likewise, India’s manufacturing PMI rose to 58.9 percent in October on a monthly basis, the highest in 13 years.
The BJP leader said that all macroeconomic indicators of the real economy such as energy consumption, rail freight and others show a positive upward trend and also indicate that the economy is ready for a recovery in shape. by V.
Mr Agarwal said this upward trend in the economy is visible across all sectors, with 470 companies reporting remarkable after-tax profit in their profits for the July-September quarter.
Attributing the rise in the economy to the Modi government’s series of stimulus packages, he said these packages acted as a catalyst for the growth of the economy and that this upward trend in the economy would continue over- beyond the holiday season.
“Prime Minister Modi and Minister of Finance Nirmala Sitharaman are not resting on these positive economic indicators and are working very hard to further improve these figures for November,” he said, adding that recent reforms of laws on the agriculture and work will further help the economy. .
(Except for the title, this story was not edited by GalacticGaming staff and is posted from a syndicated feed.)
