States lost Rs 38 lakh cr due to Covid
Indian States have lost Rs 38 lakh crore due to Covid; how has Bengal fared?
The State Bank of India’s latest Ecowrap report estimates that India’s growth in gross domestic product (GDP) for quarter 1 of the 2021 fiscal will be (-)16.5%. The COVID-19 pandemic has played a significant role in damaging the country’s economy.
The SBI analysis shows that the total loss in gross state domestic product (GSDP, that is, state GDP) due to the pandemic stands at Rs 38 lakh crore, which is 16.9% of the total GSDP.
However, Bengal’s efficient handling of the economy, even in the face of the dual crisis of COVID-19 and Cyclone Amphan, has ensured for itself a better performance than most other big states.
In terms of states’ percentage share in total GSDP loss, the states of Maharashtra (accounting for 14.2%), Tamil Nadu (9.2%), Uttar Pradesh (8.2%), Gujarat (8.1%), Karnataka (6.7%) and Andhra Pradesh (6.7%) all stand above Bengal (4.9%).
In terms of per capita loss, the national average for India is around Rs 27,000. In this too, Bengal is at a reasonably good position (per capita loss of Rs 20,000), compared to Delhi (Rs 87,000), Telangana (Rs 68,000), Haryana (Rs 53,000), Gujarat (Rs 45,000), Maharashtra (Rs 39,000) and Karnataka (Rs 39,000).
