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Friday, April 19, 2024

Tripura’s economy sees lifeline in GST collection

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Tripura Finance Minister and experts said that better GST collection and efficient resource mobilisation would boost the economic situation or at least normalise the position.

The latest report of Tripura’s Economic Review (2019-20) said that the average annual growth rate in real terms or constant prices of the Net State Domestic Product (NSDP) for 2018-19 was 11.3 per cent.

The growth rate declined in 2019-20 to 9.6 percent and is expected to further reduce to 5.9 per cent due to the lockdown and slowdown of the economy because of Covid-19 in 2020-21.

The report said that the expected growth in Per Capita Income is also affected due to the lockdown and the slowdown of the economy.

Tripura Deputy Chief Minister Jishnu Dev Varma, who holds the finance, power and rural development portfolios, said that the state is currently in a comfortable position economically.

He said that the budget session of the Tripura assembly will begin on March 17 and a growth oriented budget for the 2022-23 fiscal year would be tabled in the House.

 

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