About The Editorial
The new financial year has seen a sharp surge in GST collections, going past Rs. 1.67 lakh crore, the highest in the last five years ince GST was introduced. In 2021-22, the GST revenues had grown 30.8% to Rs. 14.9 lakh crore, despite going down during the second covid-19 wave. Moreover, Compensation cess will continue till March 2026 to pay off special borrowings of 2020-21 to bridge revenue shortfalls.
The GST Council needs to meet at the earliest to approach the impending rationalization of the GST rate slabs to factor in larger socio-economic considerations. However, the Centre has called the April inflows a sign of faster recovery. But urgent policy action is also required to curb inflation and support consumer sentiment to ensure faster growth and greater revenues.
Exams
SBI PO Prelims IBPS PO PrelimsVocabulary Check
Parley
Meaning:a discussion or meeting between two groups of people who disagree, in order to try and find a way of solving a problem
Usage: The government is ready to hold a parley at any moment.
Editorial Discussion
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