Union Finance Minister Nirmala Sitharaman has assured that Indian economy is in sustained recovery mode. She attributed the reason for this to increased GST collection and direct taxes. Sitharaman said that the number of retail investors investing money in stock markets is also growing and they have demonstrated greater confidence in the market.
Addressing the media in Chandigarh, she said, ” I can easily see the good signs of revival. Otherwise, my revenue collection would not be where it is, both the GST and direct taxation.”
The half-yearly target of direct taxes has also been achieved already.
The monthly average GST collections are in the range of Rs 1.11 lakh crore and Rs 1.12 lakh crore. “It can be assumed it will be somewhere in the range of Rs 1.15 lakh crore per month,” she told media.
All these are indicators that signal towards the recovery in the economy. The momentum shown by the markets also shows that it has its own mechanism and understanding of what it deals with the companies. The listing procedure of companies and regulations is also transparent.
“Investors are investing through mutual funds and also go directly and participate (invest in stock market) through Demat accounts. The retail investors’ interest in the stock market is growing. A lot of investment and retail investments are happening in a transparent manner,” she said.
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