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Business in slow lane in key states, show July economic indicators

Business in slow lane in key states, show July economic indicators
Business in slow lane in key states, show July economic indicators
Most of the states that have seen a decline in GST collections have been forced to borrow more to meet spending needs.

Synopsis

​India imposed a lockdown across the country from March 25. This was eased in stages in May but July saw localised shutdowns due to Covid-19 outbreaks. Increasing levels of Covid-19 cases across states that have triggered local lockdowns seem to have stymied recovery, stretching their finances as well.

NEW DELHI: State-level economic indicators such as goods and service tax (GST) collections and electricity demand show key industrial states such as Gujarat, Maharashtra, Karnataka and Tamil Nadu have seen a slowing of business activity in July from the month before. Only a few states — Rajasthan, Madhya Pradesh, Uttar Pradesh and Uttarakhand —have shown steady recovery from April, when the nationwide lockdown had the biggest economic impact.
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