Beyond the status quo

Indian economy is in a comfortable position

The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is meeting for the first time in 2024-25 this week against a favourable economic backdrop. The data released on Monday showed goods and services tax (GST) collection in March, net of refunds, increased 18.4 per cent year-on-year. The year ended with an increase of 13.4 per cent in GST collection. Given the latest available numbers on overall tax collection, the government should be able to meet the revised fiscal-deficit target of 5.8 per cent of gross domestic product (GDP) in 2023-24. The fact that the government has