Indian finance minister hails tax-payers over highest-ever GST collection in January 2022

India's Finance Minister Nirmala Sitharaman hailed the tax-payers of the country as she announced that Goods and Services Tax (GST) collections touched a record of Rs1.4 trillion on rapid economic recovery. 

With an aim to put the pandemic-ravaged economy on the path of development, India's finance minister introduced the Finance Bill 2022 in Parliament. 

Important to note that January is the seventh straight month when the GST collection has crossed the Rs 1 trillion mark. 

During her address of Budget 2022-2023, Sitharaman said there has been remarkable progress made in the GST regime, but still, a few challenges remain. "Gross GST collection in January at record Rs 1,40,986 crores; this has been possible due to rapid economic recovery," she said. 

Reflecting on the economy, Sitharaman said that India's growth is estimated to be at 9.2 per cent, the highest among all large economies as the nation is now in a strong position to withstand challenges, such as coronavirus (COVID-19). 

The finance minister further said that the nation is in the midst of the Omicron wave but the speed of the vaccination campaign has helped greatly. She said, "I am confident that 'Sabka Prayaas' we'll continue with strong growth."