More fiscal disturbance to be expected as the lockdowns are extended

Govt accounts for first two months of the year show tax revenue at Rs 1.26 trillion compared with Rs 2.14 trillion last year. There has been a sharp decline in GST collections of Rs 57,000 cr

The PM has announced an extension for the PM Garib Kalyan Anna Yojana till November, which was quite expected. The scheme was originally announced in March for three months and would have lapsed in June. Given that the pandemic is still spreading and the lockdown is more or less existent in all states, it was necessary to provide relief to the targeted population. Therefore, the extension of the scheme was expected though the time frame was unknown. The PM will be covering the entire festival season till November so that 800 million will get 5 kg of cereals and one