MUMBAI: Major states are collectively looking at a revenue loss of around Rs 97,100 crore in April alone due to the COVID-driven lockdown, which has hit the revenues of businesses and the government alike, according to a report.
According to an estimate by India Ratings on Wednesday, both the Centre and states are struggling due to the dried-up cash inflow but the problems of states are more precarious because the actual battle against the pandemic and the associated expenditure are met by them.
The lockdown-driven disruptions to production, supply-chains, trade and the total washout of activities in aviation, tourism, hotels and hospitality have taken place with such a speed and scale that even if the lockdown is lifted next week, economic activity is unlikely to normalise until Q2, warns the report that pegged “the revenue loss for the 21 major states in April alone at Rs 97,100 crore”.
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