Economy picked up steam in Oct on GST rejig, festival spends: RBI bulletin - Business Standard

Notwithstanding global headwinds, the Indian economy saw further momentum in October on the back of goods and services tax (GST) rate rationalisation and festival spending, as indicated by high-frequency indicators, the Reserve Bank of India’s (RBI’s) monthly State of the Economy report said. “GST collections improved over the previous month, indicating a strong pickup in consumer demand,” the rep…