Kerala’s GSDP loss of ₹1,56,041 cr in 2020-21 due to COVID-19 pandemic
The Hindu
Fiscal plan shows COVID-19 put severe stress on Kerala’s finances in the year
The COVID-19 pandemic has inflicted a shock to the economy and severe stress on State finances, with Kerala’s economy suffering a Gross State Domestic Product (GSDP) loss of ₹1,56,041 crore in 2020-21 in relation to Budget Estimate 2020-21. The contraction in GSDP could have been more severe but for the economic stimulus of ₹20,000 crore announced at an earlier stage of the pandemic in March 2020. This stimulus package targeted the most vulnerable and also benefited the entire society and greatly reduced the impact of COVID-19 on GSDP.
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