How lockdown has impacted revenue of government - Photos-1
Business Today
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How lockdown has impacted revenue of government

The central government estimated a 10 per cent growth in the country's nominal GDP in 2020-21, and more than half of the states estimate their nominal GDP growth rate in the range of 8 per cent - 13 per cent. Due to the unforeseen impact of the lockdown on the economy, the 2020-21 GDP growth rates are expected to be lower than these estimates. As a result, the tax revenue that the central and state governments will be able to generate are expected to be much lower than the budgeted estimates, during the period of lockdown.

Shivani Sharma
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