You are here
Home > Hyderabad News >

Telangana lockdown cost state Rs 3,000 crore income loss in May | Hyderabad News – Times of India


HYDERABAD: Lockdown to contain the surge of Covid-19 in Telangana with just a four-hour relaxation in May, cost the state Rs 3,000 crore in income from multiple sectors and taxes, officials said on Sunday.

The initial per day assessment of loss of income for the state because of the lockdown in May is pegged at Rs 150 crore .
According to top sources in the finance department, the state government lost Rs 30 crore from registrations, Rs 20 crore from transport, Rs 30 crore from excise, while other sectors and taxes resulted in combined loss of Rs 70 crore in May alone.
An analysis of last year’s strict lockdown had put the daily loss for the state from government and private sectors at about Rs 1,700 crore. Using the same parameters for this year’s lockdown, there is an assumption that the per day loss for the state is around Rs 800 crore in both private and government sectors combined.
B Vinod Kumar, planning board vice-chairman, said, “The lockdown will have economic impact, but we will not cut down on any social welfare measures promised by the government as during the post-lockdown period, people will need more support. Perhaps we will slow down our capital expenditure if needed.”
Even with the economic loss last year, welfare measures were not cut, he said.
Both in the government and private sectors, the biggest losses were seen in services and transport sectors.
Experts say the lockdown had minimal impact on agriculture and construction, but people in the unorganised sector suffered heavy losses.
“Many in the unorganised sector are suffering income loss. The government should come up with schemes for them and give them minimum cash support if needed,” said Dr Krishna Reddy, assistant professor, School of Economics, University of Hyderabad.

.



Source link

Leave a Reply

Top
error: Content is protected !!