Bengal sees 54% rise in SGST and IGST collection
The Bengal government’s policies have ensured a 54 per cent growth in SGST and IGST collection in the April to August period in 2021 vis-à-vis the same period in 2020.
Despite the huge challenges being faced, including the COVID-19 pandemic and the consequent economic upheaval, and natural disasters like cyclones and floods, Bengal’s economic landscape shines bright. The state has witnessed a growth of 54 per cent in SGST and IGST collection during the first five months (April to August) of financial year (FY) 2021-22, compared to the same period in FY 2020-21, as per an official of the state Finance Department.
This achievement comes at a time when the Union government owes approximately about Rs 5,850 crore worth of GST compensation to the state—Rs 2,850 crore for FY 2020-21 and about Rs 3,000 crore for the first six months of the current financial year (2021-22).
The SGST and IGST collection in August 2021 was Rs 2,630 crore, compared to Rs 2,150 crore in August 2020. The collection in July 2021, which stood at Rs 2,250 crore, too was much higher than in July 2020.
While other parts of the country witnessed a sloth since March 2020, Bengal held its ground. The state witnessed its highest ever collection of SGST and IGST of Rs 3,100 crore in March 2021.
The people-centric approach of the state government—giving equal importance to both life and livelihood—has resulted in this success. It resulted in the rolling of the economy despite the restrictions.
