Prof K Nageshwar: Fall in GST Revenues [HD] (Video)

         While the Goods and Service Tax (GST) collection — which touched a 19-month low of Rs 91,916 crores in September — not seen since February 2018 — reflects a generally subdued consumption level, automobile sales indicate the depth of consumer distrust in the “all is well” line. Manufacturers of both cars and motorcycles have posted a one-fifth fall in sales in September. While the government could blame millennials for their lack of interest in owning four-wheelers, the declining motorcycle sales indicate a generally subdued consumer sentiment in both urban and rural markets. The sales of major commercial vehicle manufacturers —considered a barometer of economic activity and hence growth — plummeted nearly 50 per cent, highlighting the general slowdown in industrial activity.

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Summary

Title

Prof K Nageshwar: Fall in GST Revenues [HD] (Video)

Description

While the Goods and Service Tax (GST) collection — which touched a 19-month low of Rs 91,916 crores in September — not seen since February 2018 — reflects a generally subdued consumption level, automobile sales indicate the depth of consumer distrust in the “all is well” line. Manufacturers of both cars and motorcycles have posted a one-fifth fall in sales in September. While the government could blame millennials for their lack of interest in owning four-wheelers, the declining motorcycle sales indicate a generally subdued consumer sentiment in both urban and rural markets. The sales of major commercial vehicle manufacturers —considered a barometer of economic activity and hence growth — plummeted nearly 50 per cent, highlighting the general slowdown in industrial activity.