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    Business in slow lane in key states, show July economic indicators

    Most of the states that have seen a decline in GST collections have been forced to borrow more to meet spending needs.

    Synopsis

    ​India imposed a lockdown across the country from March 25. This was eased in stages in May but July saw localised shutdowns due to Covid-19 outbreaks. Increasing levels of Covid-19 cases across states that have triggered local lockdowns seem to have stymied recovery, stretching their finances as well.

    NEW DELHI: State-level economic indicators such as goods and service tax (GST) collections and electricity demand show key industrial states such as Gujarat, Maharashtra, Karnataka and Tamil Nadu have seen a slowing of business activity in July from the month before. Only a few states — Rajasthan, Madhya Pradesh, Uttar Pradesh and Uttarakhand —have shown steady recovery from April, when the nationwide lockdown had the biggest economic impact.
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    The Economic Times