Festival season momentum light up domestic PV sales, GST collection
Helped by strong festival-season demand and momentum in the economy, domestic passenger vehicle (PV) sales reached a new peak for a third consecutive month in October, while the goods and services tax (GST) collection surged to the second-highest ever. But there were some concerns regarding manufacturing activity and joblessness, especially in rural India.
While the monthly PV wholesale number at 391,472 units in October, up 16.3 per cent year-on-year (Y-o-Y), topped the record of 363,733 units set in September, the GST mop-up at Rs 1.72 trillion, an increase of 13 per cent Y-o-Y, lagged only the high of Rs 1.87 trillion reached in April this year.
UPI transactions also saw their highest ever value in October at Rs 17.16 trillion, up 9 per cent from Rs 15.8 tr...