GST collection has dipped upto 44 percent in many states/Union Territories, reported Hindu Business Line, citing the Finance Ministry.
According to Hindu Business Line, the Minister of State in Finance Ministry Anurag Singh Thakur said in response to a question that GST collection for the Centre during April July was Rs 1.81 lakh crore. This is 26.2 percent of the target Rs 6,90,500 crore.
According to Thakur, Daman and Diu saw the highest drop. Further, the ministry, according to Hindu Business Line, disclosed the following facts:
- GST collection in Uttarakhand came down to Rs 3,760 crore during this fiscal as opposed to Rs 6,327 crore during corresponding period of last fiscal.
- GST collection in Maharashtra came down to Rs 52,154 crore during this fiscal as opposed to Rs 75,910 crore during corresponding period of last fiscal.
- GST collection in Gujarat came down to Rs 22,049 crore during this fiscal as opposed to Rs 32,503 crore during corresponding period of last fiscal.
- GST collection in Karnataka came down to Rs 24,763 crore during this fiscal as opposed to Rs 32,503 crore during corresponding period of last fiscal.
- GST collection in Tamil Nadu came down to Rs 19,797 crore during this fiscal as opposed to Rs 30,528 crore during corresponding period of last fiscal.
Dwindling FDI Inflow From China
Thakur was also asked a question on FDI from China. In response to this question, Thakur, according to Hindu Business Line, said the figure was at $163.78 million in 2019-20, as opposed to $229 million in 2018-19 and $461.4 million in 2015-16.
Further, Thakur said that the government amended FDI rules “to curb opportunistic takeovers/acquisitions of Indian companies due to the current Covid-19 pandemic.” He said that without naming China, however.
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