Ecowrap, the predictive model developed by SBI, claims there is another reason to cheer, as GST revenues have set a new record at Rs 1.41 lakh crore in April 2021 and Rs 1.03 lakh crore in May 2021. The report, authored by SBI Chief Economic Adviser Soumya Kanti Ghosh, claims average state GST (SGST) collection was Rs 29,137 crore for Apr-May ’21, while the average nationwide GST (IGST) collection was Rs 60,840 crore, 50 per cent of which should ideally be provided to states. The report also shows that monthly average cess collection was Rs 9,355 crore. If we combine all three figures, the average monthly revenue for states would be Rs 68,912 crore for this year. If we calculate the yearly figure on this number, the overall revenue would be Rs 8.27 lakh crore.