The second wave of Corona has dealt a big blow to the economy. The economy has been damaged due to the pandemic. Due to Corona, companies, factories, and industries have been closed for the last two months. This has led to a sharp decline in industrial activities. Meanwhile, NITI Aayog said that the second wave of Corona has affected the economy. NITI Aayog Vice-Chairman Rajiv Kumar said that the RBI has reduced the GDP estimate for the financial year 2021-2022 from 10.5% to 9.5%. The economy of the first quarter has collapsed due to the second wave. There is little hope of improvement.
Talking to news agency ANI, Vice-Chairman of the Commission Rajiv Kumar said that the economy is expected to improve from June. Although the economy will not grow in proportion to the pace at which it should grow, but the situation will improve. He said that the country has been badly affected by the second wave of Covid. People are very scared and scared of this, but after getting vaccinated, the fear will end from inside people and people will return to their work.
Compensation for loss from GST collection
However, during the second wave of Corona, the GST collection has played an important role in filling the coffers of the government. NITI Aayog Vice-Chairman Rajiv Kumar said that the second wave has not affected the fiscal deficit much. Although some effect has been seen, it has been compensated by the GST collection. He said that during this period the government has been forced to invest more, strengthen public infrastructure. Let us inform you that in March 2021, the GST collection has set new records. GST collection has increased by 26% to 1.23 lakh crores.
In fact, because of the second wave of Corona, the lockdown is again in force in the states, due to which industrial activities have started decreasing. Factories and industries are all at a standstill. Due to the lockdown, a large number of laborers have returned to their respective states, in such a situation the supply of goods is completely stopped.
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