₹6.62 trillion, which is 83%of the target for the entire financial year, making the proportion the highest in over two decades.The ballooning deficit is due to collapsing revenue streams as the lockdown choked consumption, as well as increase in expenditure to tackle the pandemic.
In the previous quarter, GST revenue was down by over half, and despite the “Unlock" since then, normalcy has not completely returned.“Covid vaccination may involve huge cost but at the same time it is important to proceed on those lines.
Otherwise, the economic losses will be huge. In order to reduce losses in the future, the government will have to venture towards vaccination...