Trillions and billions.

"The Goods and Services Tax (GST) collections rose 12% to a record high of Rs 1.87 lakh crore (Rs 1.87 trillion) in April, the finance ministry said." TOI. Gross GST collection was Rs 1870.35 billion in April. The government is very happy because this shows that the economy is booming and it has been successful in eradicating tax evasion. GST is collected as a percentage of current prices, so soaring GST collections mean soaring prices. "The high growth rate (of GST) in the past two years was attributed to high inflation, with retail prices rising 5.5% in FY22 and 6.8% in FY23 and wholesale prices rising 13% and 9.4% respectively," wrote Pragya Srivastava. "However, in the current financial year, inflation is expected to slow down at the retail level and come off sharply at the wholesale level." And, "many view GST as an undue burden on the poor, which could, in turn, impede consumption growth at lower income levels." It follows therefore, that these high collections are coming from the rich. "According to data from World Inequality Report 2022, where the United Nations Development Programme was a scientific partner, India is among the most unequal countries in the world," where "the top 10% and 1% in India hold 57% and 22% of the total national income." "Luxury car sales accelerated in 2022 from its previous year, whereas sales of Bajaj Auto, on of the country's biggest makers of two-wheelers, seen as a utility vehicle, dropped 10%." "Relaxo Footwears, a leading mass market brand, reported an 8% drop in sales volumes and revenues in the third quarter (October-December) of 2022-23, which includes major festivals," because it was forced to hike prices because of a sharp increase in raw material prices and a jump in the rate of GST from 5% to 12%, wrote Sayantan Bera. "India's essential medicines including painkillers, antibiotics and anti-infectives became costlier by more than 12% from April, the highest annual increase on record in the prices of these medicines." GST rates on medicines and medical appliances range from 5% to 18%, Cleartax, so a 12% increase in prices means more moolah for the government. But, if prices have gone up, "The National Statistical Office said the estimated annual per capita (net national income) at current prices for 2022-23 stands at Rs 1,72,000. This marks a growth of 99 percent from Rs 86,647 in 2014-15," when this government came to power. India Today. Miraculous! However, the rupee was 62.33 to the US dollar in 2014 so Rs 86,647 converted to $1390, while the rupee is at around 81.9 to the dollar in 2023, which means the Rs 1,72,000 converts to $2100, an increase pf $710 or 51% in 9 years. And so, "Russia has accumulated billions of rupees in Indian banks which it can't use, foreign minister Sergei Lavrov said." TOI. Russia has billions of rupees and our government has trillions. We have none.