Finance minister says Indian economy on sustained path to revival

27 Sep '21

2 min read

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Citing the rise in goods and services tax (GST) collections and direct taxes, Indian finance minister Nirmala Sitharaman last week said the economy is on a sustained path to revival. The confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market, she said addressing reporters in Chandigarh.

"I can see very clearly signs of revival and good signs of revival. Otherwise my revenue collection would not be where it is, both the GST and direct taxation,” Sitharaman was quoted as saying by a news agency.

She said the half-yearly target has already been achieved in direct taxes.

And GST collections on an average per month is somewhere in the range of ₹1.11 lakh crore and ₹1.12 lakh crore. Probably it can safely be said it will be somewhere in the range of ₹1.15 lakh crore per month, she said.

The finance minister said there is transparency in the listing process of companies and related regulations. She said today retail and small investors are taking keen interest in the stock market and investing in it. Earlier, retail investors were participating through mutual funds, she said.

Now they are going through mutual funds and also go directly and participate (invest in stock market) through demat accounts. Therefore, today interest in the stock market is growing and more investment is taking place and more retail investments are taking place and all it is happening in a transparent manner, she said.

As a result, confidence in the Indian stock market is growing, she added.

ALCHEMPro News Desk (DS)

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