Winning Bizness Economic Desk
Andhra Pradesh Collects Rs 3,021-cr as GST in October
In a significant development, the southern state of Andhra Pradesh garnered Rs 3,021-crore in net Goods and Services Tax (GST) revenue in October of this year.
This, it must be highlighted, is the second-highest for any October since 2017, the year the GST regime was introduced.
The state’s Commercial Taxes Department said that Andhra Pradesh (AP) clocked an 8.77 per cent growth in net GST collections as compared to the year-ago month (October 2024), despite net reductions on several goods.
Gross GST collections stood at Rs 3,490-crore, reflecting a 2.54 per cent Year-on-Year (YoY) increase.
“Net GST collections for October 2025 reached Rs 3,021-crore, marking the second-highest ever for October since the GST’s inception in 2017,” the Department pointed out through a release.
During the month, State GST (SGST) collections stood at Rs 1,247-crore, clocking a 6.2 per cent increase as compared to the same period last year.
Integrated GST (IGST) settlements contributed Rs 1,793-crore, up 10.65 per cent from October 2024.
Professional tax collections also registered an impressive northward climb of 18.26 per cent in October with a cumulative increase of 46.55 per cent for the financial year so far.
From April-to-October of this year, net GST collections have consistently surpassed those recorded in the same period last year.
This underlines the strong economic activity and improved tax compliance, the Department stated in its release.
Total tax collections across all sectors for October stood at Rs 4.458-crore reflecting an 8.03 per cent YoY increase.
Petroleum products VAT collections climbed up 7.88 per cent to Rs 1,282-crore, helping sustain the state’s overall revenue momentum, the release stated.
October’s India GST Revenue Collection Up 4.6 pc
The country’s Goods and Services Tax (GST) collection in October of this year increased 4.6 per cent to Rs 1,95,936-crore as compared to the Rs 1,87,346-crore in the previous month of September, official data revealed.
Gross domestic revenue in October increased two per cent to Rs 1.45-lakh-crore, while tax from imports rose 12.84 per cent to Rs 50,884-crore.
GST refunds were up 39.6 per cent Year-on-Year (YoY) to Rs 26,934-crore.
Net GST revenue stood at Rs 1.69-lakh-crore in August 2025, recording a 0.6 per cent YoY growth. For the April-to-October 2025 period, GST revenue totalled Rs 13.89-lakh-crore, marking a nine per cent growth from the Rs 12.74-crore collected during the same period last year.
Here, it must be pointed out that the GST Council in September rationalised the indirect tax structure, reducing the four rate slabs system to two slabs, addressing a long-standing demand from the Indian middle-class.
An important point to be highlighted here is that items previously taxed at 12 per cent and 28 per cent will now largely shift to the remaining five per cent and 18 per cent slabs, making a large number of products more affordable to the people.
The tax rate reduction is also aimed at stimulating consumption in the economy, thereby injecting a fresh momentum into it.
IIP Growth Slides to Three-Month Low of Four Per Cent in Sept
The country’s industrial activity slid marginally to a three-month low of four per cent in September of this year, according to data released by the government.
The data also revealed that the growth in industrial activity during the first-half (H1) of this fiscal was the slowest in at least five years.
According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), the IIP growth was at 3.2 per cent in September of last year (2024).
However, it is important to note here that growth had since accelerated to 4.3 per cent by July 2025, following which it slid southward again.
This is the slowest in at least five years, the period for which data is readily available.
In September, slowdown in industrial growth was mainly caused by mining, primary goods and consumer non-durable sectors. Activity in the mining sector registered a very marginal 0.45 per cent dip in September of this year as against a growth of 6.6 per cent in August 2025 and a growth of 0.2 per cent in September of last year.
The consumer non-durables sector dipped in September of this year by 2.9 per cent as against a contraction of 6.4 per cent in the previous month of August. Last year in September, there was a growth of 2.2 per cent.
The primary goods sector also witnessed slowing growth—it dipped to 1.4 per cent in September from a much higher 5.4 per cent in the previous month and 1.8 per cent in September of last year.
However, what requires highlighting here is that the growth in the manufacturing sector climbed up to 4.8 per cent in September of this year from 3.8 per cent in the previous month and four per cent in September of last year.
India’s Foreign Exchange Reserves Decline by USD 6.92-bn
The country’s foreign exchange reserves declined by USD 6.92-billion to USD 695.36-billion for the week ending October 24, the Reserve Bank of India (RBI) data showed.
For the reporting week, the Foreign Currency Assets (FCAs), a major component of the reserves slid southward by USD 3.862-billion to USD 566.548-billion, the RBI data showed.
The value of gold reserves dipped USD 3.01-billion to USD 105.536-billion during the week, the country’s apex bank said.
Special Drawing Rights (SDRs) were down by USD 58-million to USD 18.664-billion, the Reserve Bank said.
India’s reserve position with the International Monetary Fund (IMF) was up by USD 6-million at USD 4.608-billion in the reporting week, the Reserve Bank data showed.
TVS Motor Co’s October Total Sales Up 11 pc to 5,43,557 Units
TVS Motor Company has clocked an 11 per cent increase in sales at 5,43,557 units in October of this year as against the 4,89,015 units in the year-ago month.
Total two-wheeler sales expanded by 10 per cent to 5,25,150 units last month as compared to 4,78,159 units in October of last year, the company said in a statement.
Domestic two-wheeler sales were at 4,21,631 units as against 3,90,489 units in the year-ago month—this was up eight per cent, the statement said.
Motor-cycle sales moved northward 16 per cent at 2,66,715 units in October 2025 from 2,30,822 units in the same month last year.
Scooter sales climbed up seven per cent to 2,05,919 units last month from 1,93,439 units in October of last year.
Electric vehicles sales were at 32,387 units in October 2025 as against 29,308 units in October 2024, clocking an 11 per cent growth, the company said.
“While the retails continue to be robust, magnet availability continues to pose challenges in the short-to-medium term,” it said.
In international sales, the company said that its sales registered a healthy growth of 21 per cent at 1,15,806 units last month as compared to 95,708 units in October 2024.
Three-wheeler sales vaulted by a huge 70 per cent at 18,407 units last month from 10,856 units in October of last year, the company said.
UPI Transactions Hit Record Number in October
Transactions through the Unified Payments Interface (UPI) has touched a record high of Rs 27.28-lakh-crore and 20.7-billion in value and volume terms, data from the National Payments Corporation of India (NPCI) said.
This record number was propelled by robust festive buying and this has strengthened the popularity of UPI.
In terms of volume, the last highest recorded was Rs 25.14-lakh-crore in May, while in terms of volume, the last high was Rs 19.47-billion in July.
NPCI said that the value of transactions was at Rs 27.28-lakh-crore in October as against Rs 23.49-lakh-crore in the same month a year-ago, a 16 per cent growth on an annual basis.
On a Month-on-Month (MoM) basis, growth was 9.5 per cent in terms of value. The UPI transactions in value terms was Rs 24.90-lakh-crore while the volume was 19.63-billion.
Average daily transaction in October was Rs 668-million with an average value of Rs 87,993-crore during the festival month.
Here, it must be highlighted that UPI accounts for 85 per cent of all digital transactions in India and powers nearly 55 per cent global real time digital payments.
