Factory investment fell, wages went up in GST implementation year

In the year when the  goods and services tax  (GST) was implemented, investment in the country’s factories fell to 22.4 per cent of the gross value added (GVA) by them, down from 27 per cent in 2016-17. Only once in the past 30 years has gross fixed capital formation fallen below this level, shows latest data from the Annual Survey of Industries (ASI). In nominal terms, factory investmen…