UP On A Fast Economic Recovery Path As Revenue Collection Increases For Third Consecutive Month After Lockdown

For the third consecutive month after lockdown, the Yogi Adityanath government has posted an impressive revenue receipt of Rs 10,672 crore in October which is Rs 1,828 crore more than what it received last year in the same month -- an increase of 20.6 per cent.

This signals a fast recovery on the economic front after the lockdown.

According to Finance Minister Suresh Khanna, in August and September too, the state had registered a jump of Rs 600 crore and Rs 891 crore in revenue as compared to the corresponding period in 2019.

"Despite prolonged lockdown in the wake of the pandemic during which most economic activities had come to a standstill, no other state has shown such a record growth in revenue realisation. As the economy is back on track, the Uttar Pradesh government would announce bonus for state employees soon," he said.

Besides, the state has also reported an increase in GST and VAT collections this month, the Minister said. He added that in October, the state realised Rs 3,795 crore as GST and Rs 1,802 crore for VAT.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)