Chief Economic Advisor Arvind Subramanian today made a case for developing a clear protocol for sharing of GST data with government departments, saying it is a reflection on state's capacity and can also be used to estimate GDP in a better manner. Speaking at an event to mark GST Network Foundation Day, Subramanian said GST data will provide better insights into economy, formal sector employment and exports and has the potential to improve statistical indicators on a real-time basis. The GST data, Subramanian said, could help in computing GDP growth based on demand side data on quarterly basis. The Rs 86,000 crore monthly revenue collection under GST reflect a "decent performance". I expect GST to be a highly buoyant source of revenue over the medium term," Subramanian said.

Source: dna March 28, 2018 10:49 UTC