The fallout of deteriorating macros on required GST revenue run rate
The unimpressive trend of GST collections poses a risk to the fiscal math. As a result, the required monthly run rate for GST collections for the rest of the year is heading northward
With the rupee tumbling to fresh lows against the US dollar and oil prices on the boil, India’s macroeconomic condition is worsening. Both these factors playing out together have accelerated the pressure on government finances. True, finance minister Arun Jaitley is confident of meeting the fiscal deficit target of 3.3%. But the unimpressive trend of GST (goods and services tax) collections poses a risk to the fiscal math.
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