₹2.35 lakh crore, for fiscal 2021. "This year we are facing an extraordinary situation that even below 10% approximate estimation you are facing an 'Act of God' which might even result in a contraction of the economy...," Sitharaman said.The centre has released over ₹ 1.65 lakh crore as GST compensation to states for fiscal 2020, including ₹ 13,806 crore for March, Sitharaman said.The central government imposed a nationwide lockodown on March 25 to prevent the coronavirus spread in the country.
Over the last few months the lockdowns were gradually lifted in a phased manner to restart the economic activities. Earlier this week, the Reserve Bank had said that the contraction in economic activity was likely to continue in the second quarter of.