‘Record GST collection due to…’: Tarun Bajaj on revenue, economic growth

The all-time high record collection of Goods and Service Tax (GST) is due to economic recovery and increased compliance with the use of technology, said Tarun Bajaj, Secretary, Revenue and Department of Economic Affairs. GST collection in March this year stood at a record high of Rs 1,23,902 crore. He said that economy is recovering better than our anticipation. This is because of the steps taken by the finance ministry. "We believe that in the current financial year 2021- 22, we will see good growth," he added. "World Bank has said that our growth rate will be between 7.5 per cent - 12 per cent. Not just rating agencies, IMF said that our growth rate will be between 11 per cent to 11.5 per cent, it also has to do with low base effect, hence economy will grow. We expect a better growth rate this year," said Bajaj. Watch the full video for more details.