The government says Goods and Services Tax (GST) collection in March had crossed Rs 1.03 trillion. The finance minister called it a landmark achievement.
We have to see the trend in the coming months. The industrial outlook survey from the Reserve Bank of India says capacity utilisation bottomed out in the first half (H1) of the past financial year (FY18) at 72.2 per cent, reflecting the lagged impact of demonetisation and initial uncertainty around the rollout of GST. However, with gradual progress in remonetisation, finetuning of the GST architecture, continued support from public capital expenditure and improvement in global demand,
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