Automobile, infra development drive U.P’s GST revenue growth

Automobile, infrastructure development, and iron & steel sectors saw the highest GST revenue growth in Uttar Pradesh in 2022-23, with overall growth of 21% despite the lack of compensation from the Centre after June 2022. The government’s GST and VAT revenue collection in the last financial year stood at ₹1.8 lakh crore, which is 86% of the ₹1.24 lakh crore revenue target. The automobile sector registered a revenue increase of 47%, while infrastructure development grew by 37% and iron & steel by nearly 21%. Other businesses that showed significant revenue growth include FMCG, electronics, petroleum products, electrical goods, coal and coke, and chemicals.