In the last two days, Modi's government has received two good pieces of news indicating the rapid pace of India's economic development despite global difficulties. On Tuesday, encouraging data on GST collection was published, and on Monday, GDP growth figures for the first quarter of the 2026-27 fiscal year were presented, which turned out to be better than expected.
The first good news concerned the GDP figures. In the first quarter of FY27, the Indian economy showed a dynamic growth of 7.8%. This figure exceeds the GDP growth rate of India in the same quarter last year, which was 6.9%. This result surpassed the forecasts of many experts and the Reserve Bank of India (RBI), who expected India's GDP growth to be in the range of 7.1-7.2% for the April-June period.
It is important to note that this GDP growth rate was achieved amidst numerous global problems, including tensions over tariffs and wars, supply chain crises, rising energy prices, and uncertainty in world trade. Prime Minister Narendra Modi stated in a video address regarding the GDP growth: 'The country is filled with joy; we have achieved a growth rate of 7.8%, and we need to maintain this momentum. We will realize the dream of a developed India by 2047 through self-reliance.'
Following the announcement of the GDP growth data, another positive piece of news for Modi's government followed on Tuesday morning. Data on GST collection for August was published, showing an increase of about 15% year-on-year. The total GST collection for August amounted to 1,998.53 lakh rupees, compared to 1,741.16 lakh rupees in the same quarter last year.
Analysis of the GST collection data shows that the central GST (CGST) collection reached 38.413 lakh rupees, state GST (SGST) collection reached 46.316 lakh rupees, and the total integrated GST collection exceeded 1.15 lakh rupees. Furthermore, refunds increased by 68% last month, amounting to 31.795 lakh rupees. The net GST collection was 1.68 lakh rupees. Significant amounts from GST collection were also received by the government treasury in June and July.

