Centre’s revenues buoyant, fresh credit cycle has begun: Economic Survey1 min read . Updated: 31 Jan 2023, 03:37 PM IST
The Survey attributed the growth to structural reforms like the introduction of GST and the digitalisation of economic transactions, which it said, led to greater formalisation of the economy, expanded the tax net and enhanced tax compliance
New Delhi: Central government’s revenue receipts have grown at a faster pace than the economic growth rate due to formalisation of the economy, even as cleaner balance sheets of banking, non-banking and the corporate sectors have led to a fresh credit cycle, according to the Economic survey 2022-23 tabled in the Parliament on Tuesday by finance minister Nirmala Sitharaman.
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