Page 455 - ES 2020-21_Volume-1-2 [28-01-21]

82 Economic Survey 2020-21 Volume 2

¾ Owing to the recovery of the economy over the past few months, the monthly revenue
collections have witnessed an uptick. The monthly GST collections have crossed the
` 1 lakh crore mark consecutively for the last 3 months, reaching its’ highest ever in
December 2020.
¾ Reforms in tax administration have set in motion a process of transparency, accountability
and more importantly, enhancing the experience of a tax-payer with the tax authority,
thereby incentivising tax compliance.

¾ During 2020-21, the Central Government has taken consistent steps to impart support to
the States in the challenging times of the pandemic.
¾ In the wake of the global pandemic outbreak, the General Government (Centre plus
States) is expected to register a fiscal slippage in FY 2020-21, on account of the shortfall
in revenue and higher expenditure requirements. However, longer term sustainability
depends crucially on reviving growth relative to the interest cost of Government debt.