A SBI Research report estimates an additional gain of 37,426 crore rupees in revenue in the current fiscal due to surge in oil prices and better tax collection due to Goods and Services Tax - GST. 

According to the report, 16 out of 24 states have seen their revenues rising, with the aggregate gain being 18,698 crore rupees for FY18. Combined with the revenue growth due to crude price rise, the overall gain will be over thirty seven thousand crore rupees. The report says that Gujarat, Haryana, Maharashtra, Chhattisgarh, Jharkhand and Punjab have gained the maximum from GST while Karnataka, Bengal, UP, MP and Assam have reported a decline in tax collection post-GST.

Accepting the need to optimize tax revenue for funding social security programmes, the report however talks about the need to insulate consumers from adverse price shocks. #casansaar (Source - NewsOnAir)