Madhya Pradesh's economy crumbles down by 60% due to lockdown

Bhopal: The state economy has collapsed badly due to the lockdown due to Corona epidemic. However, the income of the state government has come down by 60 percent during this period. In April and May, where 6576 crore rupees were received in the previous year 2019, in two months of this year, it has reduced to a mere 2640 crores. While excise, registration and stamps in commercial tax and VAT on petrol and diesel were received in April and May last year, 3223 crore rupees, while this year there was an income of 1361 crores in these two months, which is a shortfall of 1862 crores. Every work was stalled due to the lockdown.

The effect of this deficiency is that new construction-related works have been completely stopped in the state. 1500 crore was spent on health services. According to officials of the Finance and Commercial Tax Department, the government's revenue situation improved in May compared to April. It is expected to improve further in the coming days. The Center received an equal amount of the state's share in central taxes in both months. The necessary expenses of the government have not been affected by this.

In April and May the state's share in central taxes, 3 thousand crore rupees have been received from the Center. On the 25th of April, 100 crores of GST was received. This amount will also be available this month. It is clear that in the last two months, the expenses of the government are more than the amount received from the centre. The government may face the problem of paying salaries to government employees.

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