ranjan

The impact of coronavirus pandemic in the financial year of 2020-21 would erode all the economic value that Indians have added in the last 16 months - a full fiscal year of 2019-20 and the preceding four months. Large informal sectors, weak institutional capacity and incomplete registries of the poor make it difficult to reach the needy.      The great contraction of Indian economy would affect all products and services which are not essential for a living. Government revenues would decline because of lower consumption and resultant lower profits. It would set the economy back by 28 months-country never seen such unprecedented in its recent history.  It would also effect the ability of State Governments to spend on welfare schemes, which have mushroomed since the economy was liberalized in the 1990s. Governments have limited fiscal sources to support. Though agriculture remains more or less unaffected by the coronavirus as on today, it cannot offset the slump in sectors like travel, ho