Aggregate state GST collections growth to moderate to 12-14 per cent in FY24: Crisil

Crisil predicts that the growth in the aggregate GST collection for states will decrease to 12-14% in FY24 from 20% in FY23. Despite the moderation, GST collections will remain the leading driver of revenue growth for states. The resilience of the Indian economy, moderate inflation, and increasing tax compliance will contribute to the GST collections.