Assam placed in 2nd spot in growth of GST collection

 Staff Reporter

Guwahati: The growth of GST collection in the state in the month of April 2024, when compared to that of April 2023, has hit a record. With a growth rate of 25%, Assam has been placed in the second spot among the states in the country. Mizoram, with a growth rate of 52%, is placed in the first position.

GST revenue collection in Assam in April 2023 was Rs 1513 crore, which increased to Rs 1895 crore in April 2024, marking a growth of 25% in GST collection. Assam has bested states like Delhi, Chandigarh, UP, West Bengal, etc. in this regard.

Chief Minister Himanta Biswa Sarma said in this connection, “With a growth of 25% in GST, I am happy to note that Assam is expanding its role in nation-building. Seeing the nation’s GST collection surpass Rs 2 lakh crore for the first time is indeed a pivotal moment for the economy.”

Official sources said that several factors contributed to the growth in GST and the state’s own taxes, like the growth of an eco-friendly industrial atmosphere, investment-friendly policies for ease of business, and the normalization of the law and order situation contributing to interest in investments. Apart from these, the closing of gaps in tax collection, checks in any lacuna in this regard, and other factors have contributed to the growth in the collection of GST and state taxes. In the last few financial years, the state’s own tax collection has witnessed a growth of around 18%.

Sources further said, “Economic performance by the state is measured by the pace at which economic activity is growing in a state or country. Assam, by that measure, is one of the high performing states in the country. As per projected estimates, the state GDP of current prices for the financial year 2024–25 is expected to reach the level of Rs 6.43 lakh crore.”

The sources also said that the estimate of state domestic product reveals the extent and direction of changes in the level of economic development of the state over a period of time. Assam is one of the potential states registering high growth in terms of GSDP. Higher economic growth helps make the lives of people better. Assam is consistently performing better, as they pointed out.

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