The Bharatiya Janata Party on Tuesday said the economy was on the right track as the Goods and Services Tax (GST) collections in October had increased by about 10% compared to the same month last year.
Addressing a press conference at the party headquarters here, BJP spokesperson Gopal Krishna Agarwal said the GST data released on Sunday showed collections had crossed ₹1 lakh crore, a first since the COVID-19-related crisis began. He said the GST data as well as other indicators for October showed that the economy was getting back on track.
He said the Purchasing Managers’ Index was 58.9% in October, the highest month-on-month growth in 13 years. He said macroeconomic indicators pointed towards a “V-shaped recovery”.
Mr. Agarwal said Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman were working on making sure that the numbers for November are even better than in October.