Economy

For third month in a row, Tamil Nadu’s GST collections grow in double-digits

G Balachandar Chennai | Updated on December 01, 2020 Published on December 01, 2020

State’s collections grew 10% at ₹7,084 crore in Nov

In a big boost to the Edappadi K Palaniswami’s government, Tamil Nadu has recorded double-digit growth in GST collections for the third consecutive month as the State appears to be exhibiting a stable recovery on the economy front.

Also, while other developed and big States such as Maharashtra, Karnataka, and Uttar Pradesh recorded a fall in revenue for the November month, Tamil Nadu continued its growth momentum.

Total GST collections in Tamil Nadu grew 10 per cent at ₹7,084 crore in November 2020 when compared with ₹6,449 crore in November 2019.

While GST collections have been improving, Tamil Nadu has also been exhibiting good progress among its peers on containment of Covid-19 cases.

 

New projects

Amid its fight against the pandemic, the State has been focusing on pushing industrial development with several measures.

The State government’s nodal agency State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) recently obtained the environmental nod for developing a new industrial park at the emerging manufacturing corridor at Vallam Vadagal near Sriperumbudur.

Also, Tamil Nadu government signed 14 MoUs worth ₹10,055 crore during this October.

A couple of months ago, C Rangarajan, former RBI governor, who recommended growth measures for the State government, had indicated that economic activity in Tamil Nadu would return to a normal level in a few months helped by many factors.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on December 01, 2020
This article is closed for comments.
Please Email the Editor