Gross GST collections grow 9.1% to Rs 1.84 lakh crore in February

Gross GST collections grow 9.1 pc to about Rs 1.84 lakh crore in February

Indian economy continued to perform well in the fourth and final quarter of the year, with GST collections recording a 9.1 percent rise to Rs 1.84 lakh crore in February compared with Rs 1.96 lakh crore in the previous month.

February marks the 12th consecutive month of over Rs 1.7 lakh crore of collections.

Net GST collections, after discounting the refunds, were also 8.1 percent higher from the previous year.

Sequentially, however, collections were lower with February having only 28 days of data.
After staying in single digits for four months, the pace of GST collection had picked up in January to a nine-month high of 12.3 percent.

India’s economy rebounded in the third quarter, according to data released on February 28, with growth settling at 6.2 percent compared with 5.6 percent in the previous month.

While the Q3 estimate was lower than the forecast of 6.3 percent in MC poll of 18 economists, the government did revise the FY25 estimate upward to 6.5 percent.

The Indian economy would need to grow 7.6 percent in the fourth quarter to achieve the 6.5 percent mark.

CEA V Anatha Nageswaran in a conference post GDP release on Friday noted that India could reach the 7.6 percent growth mark as Mahakumbh related spending, along with government capex push is expected to help the economy in the fourth quarter.

The MC poll pegs growth in the coming year at 6.6 percent, slightly higher than the 6.4 percent estimated for FY25.

The Economic Survey released in January had pegged FY26 growth between 6.3-6.8 percent.