The Economic Times

GST collections jump 22.9% to Rs 2.31 lakh crore in October as festive demand beats high inflation and interest rates

India's GST collections in October reached 2.31 lakh crore, reflecting a 22.9% year-on-year increase. Strong consumption trends are indicated by rising passenger car sales and record digital payments. Power consumption also surged nearly 22% compared to last year, further emphasizing economic strength. Despite a high inflation rate of 5.5%, demand has remained robust, supporting growth forecasts. Analysts suggest this growth aligns with leading indicators of a consumption-driven economy.