The May GST collection data for FY24-25 reveals notable 10% Year-on-Year (YoY) growth, reaching ₹1,72,739 crore in revenue. This growth trend aligns with the broader fiscal year’s trajectory, which has seen an 11.3% YoY increase in gross collections. Driving this growth is a substantial 15.3% surge in domestic transactions, indicating a strong domestic economy fueled by increased consumer spending and business activities.

However, imports show a contrasting 4.3% slowdown, which may suggest a shift towards domestic sourcing or production. This data positively reflects the economy’s health and provides insights for policymakers to strengthen domestic economic activities while addressing challenges in international trade.