Credible signs of economic growth in September; GST collection up 4% YoY: Finance Ministry

Finance Ministry on Saturday said re h been credible signs of ecomic progress in month of September after ecomic slump due to COVID-19 pandemic and consequential lockdown, ding that government is always rey to take any furr measure necessary to reduce sufferings of people.

In last few months of COVID-19 crisis, fiscal stimulus and packs to boost recovery process of ecomy have been prime focus and government has every possible measure to dress concerns of all stakeholders and citizens, by extending help on both demand and supply side to bring ecomy back on track, Finance Ministry said.

Ministry furr listed out measures stating that steps taken by government and RBI were helping ecomy come out of crisis situation, as could be seen in recent GST collections.

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Towards a faster recovery

ministry also said that it is open to all possibilities and finance minister is also willing to take any measures necessary to improve situation that will le to reducing sufferings of people at large.

phased relaxation of lockdown has led to ecomy gaining momentum to be back on track with GST collection of Rs 95,480 crore in September which is up by 4% year-on-year.

rail freight revenue earnings were up by 13.5 per cent, power consumption up by 4.2 per cent, and rising tractor sales, healthy monsoons and or growth indicators like PMI manufacturing, index of eight core industries, E-way bills, exports, Kharif sowing, cargo traffic and passenger vehicle sales, etc., are showing credible urd movement, ministry contended.

With improving numbers of September, Finance Ministry exuded confidence in mitigating impact of COVID-19 and getting ecomy back on track towards a faster recovery.

With two financial stimulus packs, Prhan Mantri Garib Kalyan Pack (PMGKP) and Aatmnirbhar Bharat Pack (ANBP) of Rs 20 lakh crore, government implemented relief measures with 42 crore people receiving direct financial assistance of Rs 68,921 crore including almost 8.94 crore beneficiaries under PM KISAN with two installments of Rs 17,891 crore each. Also, Rs 30,952 crore has been deposited into 20.65 crore women Jan Dhan accounts through Direct Benefit Transfer.

Moreover, 20 crore households are being provided with free pulses at 1 kg per month for eight months and 81 crore beneficiaries are helped with free food grains at 5 kg per beneficiary for 8 months, constituting more than 60% of India's population.

(Inputs and im from PTI)

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