Several rating agencies have changed their estimates of India’s 2020-21 GDP growth after the imposition of lockdown. So, there cannot be one number for revenues foregone.
However, if it is assumed that the state-level GDPs will go down by 1 per cent than what was assumed, all the states may see around Rs 5,000 crore of GST collections in 2020-21, according to legislative research institute PRS. This is 0.17% of combined GDPs in FY21.
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First Published: Mon, April 27 2020. 23:18 IST
