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How real is the GST boost? -AK Bhattacharya

-Business Standard The share of GST collections in GDP has stagnated, even as IGST revenues from imports have gone up sharply The Modi government is elated over the steady improvement in the collection of goods and services tax (GST) in recent months. Along with the sharp growth in collections of other Union taxes, GST collections have also crossed the Rs 1-trillion mark for each of the last six months beginning July 2021. Please...

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Are we overestimating the fiscal boost to the economy? -Roshan Kishore

-Hindustan Times Gross domestic product (GDP) statistics are released at both current and constant prices. The latter discounts inflation (more on this later) from the base year of the current GDP series. Let’s assume it takes a tonne of steel to build half a kilometre of road. Let’s also assume steel costs ₹1,000 a tonne and there is a tax of 10% on steel. Now, if steel prices doubled in a year,...

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NSO estimates FY22 GDP Growth at 9.2%

-The Hindu COVID-19 could impact final numbers, says the National Statistical Office. India’s gross domestic product (GDP) is expected to grow by 9.2% in the current financial year following last fiscal’s 7.3% contraction, the National Statistical Office (NSO) said in its first advance estimates of economic output released on Friday, amid concerns over the likely impact of a third wave of the COVID pandemic. The NSO, however, made clear that these were “early...

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As Uttar Pradesh Heads to Polls, How Does the Yogi Govt's Economic Performance Hold Up? -Santosh Mehrotra

-TheWire.in Employment trends are dismal under the 'double engine government' of Modi and Adityanath. Several claims made in ads do not appear to hold up. Uttar Pradesh’s per capita income was barely half (Rs 41,023) of India’s average (Rs 86,659) in 2019-20. The per capita income of UP (at 2011-12 prices) is ranked 32 out of 36 states and Union Territories. That the state’s economy has been one of the poorly performing...

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GDP Numbers: What’s Wrong With How India Measures Manufacturing Output Data -Kaushal Shroff

-TheWire.in A claim of an 8.4% real GDP Growth rate has little relevance even as rural India battles plummeting wage levels, depleted incomes and widespread unemployment. With the release of the GDP figures for the quarter ending September, the government machinery has been in full swing advancing the narrative that economic growth is indeed back on track. However, sorely missing from these narratives is the inconvenient factoid on the currently dismal state of...

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