States stare at crash in revenue collection

Output data suggests that eight core sectors contracted by 6.5% in March.  The Covid-19 pandemic has led to the destruction of the world economy and India is no exception to this. Most prominently, Indian states are facing a total crash in their revenue collection. The Goods and Service Tax (GST), Value Added Tax (VAT) and excise collections in the states are likely to reduce up to 90%. The n…