GST kitty swells, factory activity hits 31-month high
The GST collection rose 12% from a year earlier to ₹1.57 lakh crore in May while the Manufacturing Purchasing Managers' Index (PMI) climbed to 58.7 from 57.2 in Arpil. "May PMI and GST data show that underlying momentum in the economy remains resilient, largely based on domestic factors," said Rahul Bajoria of Barclays.