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Budget 2023
Budget 2023

Coronavirus lockdown: Both Centre and states gear up to bridge revenue gaps

The Centre is expected to gain close to Rs 1.6 lakh crore in additional revenue this fiscal from the increase in excise duty on petrol and diesel

May 08, 2020 / 07:03 PM IST
Representative Image

Representative Image

The novel coronavirus, or COVID-19, pandemic has upset the government's  revenue math for a major portion of FY21.

For private investment to revive and gather steam, it would take time and till then government expenditure would have to drive economic activity. In the absence of an assured revenue stream, both central and state governments are trying to generate it in a bleak economic environment.

As soon as liquor shops opened across the country after a 40-day gap, the Delhi government announced a 70 percent 'special corona fee' on alcohol prices.

Andhra Pradesh had initially increased alcohol prices by 25 percent and followed it up with a 50 percent hike in the maximum retail price (MRP) a day later.