The GST collection of which months in 2023 stood at ₹1.72 lakh crore, the second highest-ever?
Current Affairs
Economy
Difficulty: Medium
Choose an option
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AJuly
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BAugust
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CSeptember
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DOctober
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EJune
Answer
Correct Answer: October
Explanation
### Concept & Economy Data
The Goods and Services Tax (GST) is a comprehensive indirect tax in India. The monthly collections are closely monitored as indicators of domestic economic activity and consumption.
### Step-by-Step Solution
* The highest-ever gross GST collection was recorded in April 2023 at approximately ₹1.87 lakh crore.
* The second-highest collection benchmark was achieved in October 2023, hitting ₹1.72 lakh crore.
* This surge in October was largely driven by domestic transactions and heightened economic activity during the festive season.
### Exam Strategy & Shortcut
For memory-based economic data questions, associate major spikes with standard economic cycles—April usually peaks due to financial year-end spillover, while October/November spike due to major festive season demand (Diwali/Dussehra) in India.
### Common Pitfall
A common mistake is confusing the financial year-end highest peak (April) with the festive season peak (October), leading to incorrect guesses like September or August.
### Final Answer
Therefore, the correct answer is **October**.