Four-fifths of income losses during 1st wave incurred by private sector: Report ...Middle East

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Almost 80 per cent of all income losses during the first wave of the pandemic in 2020 were incurred by the private sector in India, while in many other countries the entire loss was on respective governments, a report said on Wednesday. While the Centre had announced a Rs 21 lakh crore COVID-19 relief package, comprising 10 per cent of the GDP, the actual financial support was only about 2 per cent of GDP, as the rest was all credit-driven. ''Almost four-fifths of all income losses during the pandemic in 2020 were incurred by the private sector in the country, while the government sector bore only about a fifth of the losses. ''This is in stark contrast to Australia, Canada, and the US, wher

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Four-fifths of income losses during 1st wave incurred by private sector: Report ...Middle East

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