Page 17 - Banking Finance December 2023

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tended by Prime Minister Narendra November 10, 2023, and May 10,
Modi for an additional five years. 2024. A person may remain for up to Attention Subscribers
"According to the government's plan, 30 days after making one entry. The Please renew your Subscription of The
PMGKAY will terminate in December. Director of the Tourism Authority of Insurance Times Journal to receive
However, your son, who was raised Thailand's New Delhi Office, Siriges-A- copy of the journal uninterruptedly.
among the impoverished and has lived Nong Trirattanasongpol, stated... You can now pay by GPAY, Phonepe,
in poverty himself, has made a differ- Paytm, Amazon, ICICI Pay, BHIM UPI
ent choice. I have determined that for Average monthly gross
the next five years, the 80 crore impov- GST mop-up increases by
erished people will receive free
foodgrains from the BJP government. 11%.
The PM stated at a polling event in According to data released by the Min-
Durg, Chhattisgarh, "This is Modi's istry of Finance, Goods and Services
guarantee; it is not a political prom- Tax (GST) collections for the month of
ise." October increased by 13% Year-over-
Year to Rs 1.72 lakh crore.
The announcement, which is antici-
pated to result in an annual subsidy of With October's collection coming in at
Rs 2 lakh crore, ignited the beginning Rs 1.87 lakh crore, it is now the sec-
of what will undoubtedly be a busy ond highest collection ever, behind
election season and raised hopes for April 2023.
additional welfare initiatives ahead of In September, GST receipts in India
the 2024 Lok Sabha contest.
totalled Rs 1.63 lakh crore. The
Although it was possible that the pro- monthly GST mop-up has exceeded the
gram would be extended until the Rs 1.5 lakh crore threshold for the
middle of 2024, many were surprised eighth consecutive month.
to learn that it would be extended for
According to a Finance Ministry state-
an additional five years by the govern-
ment, "the average gross monthly GST
ment, which must apply for a mandate collection for the fiscal year 2023-24
renewal in the coming months. This
now stands at Rs 1.66 lakh crore, Sashi Publications Easy Payment
development is anticipated to support
which is 11% higher Y-o-Y." Modes :-
Modi's "pro-poor" agenda...
According to a government statement, i) UPI ID: SASHIBOOKS@KOTAK
revenue from domestic transactions ii) GPAY: 9830171022@okbizaxis
Indians can travel to Thai- (including the import of services) dur- iii) PAYTM: 9830171022@paytm

land without visa from ing the month is also 13% higher than iv) NEFT: Current A/C
revenue from these sources during the 402120110000327 of 'SASHI
Nov 10 to May 10 corresponding month of the previous PUBLICATIONS PRIVATE
From November 10 to May 10, 2024, year. LIMITED, Bank of India, VVK
Indians can enter Thailand without a Road Branch., Kolkata, India,
The CGST component was Rs 30,062
visa as the Southeast Asian nation at- IFSC Code : BKID0004021
crore, the SGST was Rs 38,171 crore,
tempts to increase tourism. One of
and the IGST was Rs 91,315 crore of v) Credit Card:
Thailand's main tourist destinations is
the total 1.72 lakh crore collected. The www.sashipublications.com
India.
government has paid out Rs 36,614 For any query please call
Indian nationals are permitted entry crore to the SGST from the IGST and Rs 9073791022/9883398055
into Thailand without a visa between 42,873 crore to the CGST. www.sashipublications.com

16 | 2023 | DECEMBER | BANKING FINANCE