Kolkata:West Bengal has registered an increase of 10.2 percent in its Goods and Services Tax (GST) collection till the third quarter of financial year 2024-25 compared to previous year (2023-24). This apart, the state has collected over Rs 15,000 crore from other taxes and revenue streams in this period.
In the first three quarters of 2024-25, the state has collected Rs 38,400 crore in GST while it was Rs 34,800 crore in the same period in the previous fiscal. According to Nabanna sources, the state government has surpassed its target in revenue collection through GST of this period. The highest GST collection was between October and December, indicating the strong position of state economy.
According to economists, the purchasing power has increased significantly due to the increase in cash flow in the hands of the people of the state. Several welfare schemes of the state government, namely 'Lakshmir Bhandar', 'Kanyashree', 'Krishak Bandhu' and 'Student Credit Card', have boosted the economic dynamism of Bengal. This has led to an increased demand in the market and a significant development in the state's goods and services sector.
An official of the state finance department said this increase in revenue will give the state more scope to implement new people-oriented schemes. The Trinamool government plans to expand the ambit of social schemes, which will indirectly strengthen the state's economic infrastructure.