Haryana

• 03 May 2023

22 Percent Increase in Haryana's GST Collection

Why in News?

• According to the data released by the Union Ministry of Finance on 02 May 2023, there has been an increase of 22 percent in Haryana's GST collection this time as compared to last year.

Key Points:

• Where the state's GST collection was 8,197 crores in the year 2022, it has increased to 10,035 crores in the year 2023.
• The GST collection has increased only in the neighbouring states of Haryana such as 16 percent in Punjab, 17 percent in Himachal, 8 percent in Delhi and 5 percent in Rajasthan. The growth rate of Haryana is more than these states.
• It is known that Haryana is one of the leading states on the parameters of economic development. The state government is giving importance to big industries as well as micro, small and medium industries. The state government has improved power availability and connectivity to promote industries.
• It is worth mentioning that GST is a comprehensive indirect tax which was introduced in India on 01 July 2017 through the 101st Constitutional Amendment Act, 2016 with the slogan 'One Nation One Tax'.