Why recent GST revenue collection data indicates uptick in economic activity

Gross Goods and Services Tax (GST) revenue collections in August (for sales in July) came in lower than previous month’s level but crossed the Rs 1 lakh-crore mark for the second consecutive month. The sustenance  above Rs 1 lakh-crore  indicates a pickup in economic activity after a series of localised lockdowns during the second wave of the  Covid-19  pandemic. How much are t…