In September, gross tax collections grew by a healthy 15.8 per cent. With this print, GST collections have now averaged at Rs 1.66 lakh crore per month during April-October 2023, up 11.4 per cent from Rs 1.49 lakh crore during April-October 2022. As against a target of Rs 61,000 crore, collections have so far only touched Rs 8,000 crore. Till September, the Centre had transferred Rs 4.55 lakh crore to states, up 21 per cent from last year. To meet the budget target, the government has to devolve Rs 5.66 lakh crore, roughly similar to that last year.

Source: Indian Express November 04, 2023 13:22 UTC