GST collections hit monthly high of Rs 1.87 lakh crore in April

India’s goods and services tax (GST) collections rose 12% YoY to a monthly record high of INR1.87tn ($24bn) in April, beginning the financial year on a buoyant note, according to official data. Meanwhile, other released economic data including the manufacturing Purchasing Managers’ Index (PMI), fuel demand, auto sales, and coal output demonstrated a strong economy, despite global challenges.