Centre Fights An Uphill Battle As Income Dwindles And Expenses Rise
The Indian economy, which was already struggling before the pandemic hit, has got on to a worse road after the COVID-19 outbreak. Unemployment is high, industries are shrinking and the government is constantly lagging behind on its tax collection targets i.e. the government does not have income and to meet its expenses, govt will have to increase the deficit. Government spending is the only thing that has been increasing rapidly. In the first quarter of the last financial year, it was 7,21,705 crore but in this quarter it has increased from 13 percent to 8,15,944 crore.