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Business News, Strategy, Finance and Corporate Insight

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On GST front, collections rose 44% to ₹1,40,885 crore in June compared with ₹97,821 crore in same month last year. One reason is high inflation, but e-way bill registrations also point to increased volumes and, therefore, higher consumption. E-way bills stood at 73.62 million in May 2022, the third-highest since the system was rolled out in 2018 and up 84% year-on-year.

Some other high-frequency data also suggests economic recovery. IIP-consumer durable goods rose from 133 in March 2021 to 149.9 in April this year. Kotak Institutional Securities says that the Indian housing market has seen some recovery over past year with aggregate sales in five major markets — Bengaluru, Chennai, MMR, NCR and Pune — increasing 23% over FY20-22.

The Challenges

Green shoots are visible, but so are challenges. The biggest is fiscal management. Finance ministry’s May economic report talks about twin deficits. “As government revenues…

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