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1200-1700 crore loss of GDP of Punjab due to lockdown

Chandigarh: Due to the curfew (lockdown) imposed in Punjab for more than a month to prevent the spread of corona virus economic activities It is completely stalled, which has also had an impact on GDP.

During this period, Punjab has suffered a loss of about 1200-1700 crores of GDP per day since the first day of lockdown. This has been said in the report of the State Task Force.

The report, titled ‘Exit Strategy for Kovid-19 Lockdown Restrictions’, states that manufacturing, agriculture, investment and trade, which make major contributions to GDP, are expected to be adversely affected not only during the lockdown period, but in the coming months. Too.

The largest employer micro, small and medium enterprise (MSME) sector in the state can be badly affected.

Punjab Chief Minister Amarinder Singh has constituted this task force to find ways to gradually get out of the state from unexpected lockdown.

Called India’s cereal bowl, Punjab contributes the most to the central shopping pool.

The report cautioned, “This period (April-May) is very important, as it is the time to reap the Rabi crop and sow the Kharif crop.”

“If curfew is not relaxed, it will be a big blow not only to the food security of the state, but also to the entire country.”

In addition, Punjab’s economy is in a state of potential contraction after a gap of nearly 40 years.

The state’s fiscal situation can go awry, as tax and non-tax revenue streams have dried up due to the shutdown of economic activity.

The report said that the provision of adequate funds to meet the needs of the health and social sector cannot be avoided.

The task force expects the state to have more autonomy in setting future action plans. The revised guidelines issued by the Union Home Ministry have also recommended amendments.

So that in the event of increasing lockdown after May 3, the labor market can be revived and the stalled industrial economy can be accelerated.

The report recommends that a lockdown exit strategy be divided into health and non-health related objectives.


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Manish Maurya
Manish Maurya is native of Azamgarh district of Uttar Pradesh state in India. He is under trainee for correspondent. He works as freelancer. Contact him via mail or whatsapp at +91-9198-624-866
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