Dip in Revenue Receipts

  • The government is facing a second year of revenue shortfalls due to the resurgence of the coronavirus and the subsequent localised lockdowns.

Key Points

  • Moody’s Investors Service slashed its 2021-22 economic growth forecast for India from 13.7% to 9.3%.
  • The biggest toll of the second Covid-19 wave is demand shock—loss of mobility, lower discretionary spending and unemployment, besides inventory accumulation, though aggregate supply was less impacted.

Other Impacts

  • Decline in electronic permits generated by businesses for the transportation of goods.
  • Decline in the growth in GST receipts from imports (IGST).

About Revenue Receipts

  • Revenue receipts can be defined as those receipts ....
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