GST revenues lag behind pre-GST levels, says PRS report
market hours1 source ↓written by the desknot a recommendation
- in 2015-16
- 6.5% of GDP
- in 2015-16
- 5.5% in 2023-24
- target set
- 7%
A report by PRS Legislative Research reveals that GST revenues remain below pre-GST levels, declining from 6.5% of GDP in 2015-16 to 5.5% in 2023-24. This is significantly lower than the 7% target set by the 15th Finance Commission. The findings indicate ongoing challenges for state finances and potential implications for fiscal policies.
Not investment advice. For informational purposes only.