- The halt of economic means of production, due to COVID 19 made the Indian economy grow at -6.6 % during fiscal 2020-21. All the sectors except Agriculture saw negative growth. The table below represents the growth amid COVID 19 pandemic.
|
Year |
Growth rate |
|
2020-21 |
-6.6% |
|
2021-22 |
8.9% |
|
2022-23 |
7.2% |
|
2023-24 (projected) |
7.5% |
- The losses incurred have been shown in tabular form below.
|
Year |
Revenue Loss |
|
2020-21 |
19.1 Lakh crore |
|
2021-22 |
17.1 Lakh crore |
|
2022-23 |
16.4 Lakh crore |
- Further, the report highlights that in order to recover the losses incurred, the economy should grow at a double-digit growth rate.
Question:
Q.1 What is the estimated revenue Loss due to COVID 19 during fiscal 2020-21?a. 19.1 Lakh crore
b. 17.1 Lakh crore
c. 16.4 Lakh crore
d. None of the above
