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Is the economy slowing down? We looked at the tax revenue data of the states in the first four months of 2019-20. This is what we found
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For the first time in last 5 years, the tax revenue earned in the first four months of 2019-20 by 21 states is 2.3% less than the revenue earned during the same period in 2018-19. 13 of the 21 states have seen a fall in cumulative tax revenue in 2019-20 (till July 2019)
Among the larger states, Andhra Pradesh, Gujarat, Punjab, Karnataka have reported a significant fall in the tax revenue for this period in 2019-20 compared to the same period in 2018-19. 
Only West Bengal & Uttar Pradesh reported a significant increase in Tax revenues during the first four months of 2019-20 compared to the same period in 2018-19.
18 of the 21 states where data is available, reported a fall in the tax revenue of July 2019 compared to July 2018
This is the first time in 5 years that the combined tax revenue of these 21 states in the first four months of a financial year is less than the previous year
