Renewed risks to recovery

Rising Covid cases could reverse recent gains

The provisional data for indirect tax collection in 2020-21, released by the Union government on Tuesday, suggests that the economy has been recovering at a faster than expected rate over the last few months. The indirect tax collection for the year increased by 12.3 per cent, compared to the actual collection in the previous year, including both the goods and services tax (GST) and non-GST taxes. The net indirect tax collection at Rs 10.71 trillion was 108.2 per cent of the revised estimates. The GST collection for the Central government was also about 6 per cent higher than the revised