Prioritising expenditure

Govt must focus on providing relief to the needy at this point

The national income data released on Monday showed that the economy was gathering momentum. The real gross value added in the January-March quarter increased by 3.7 per cent, year-on-year (YoY), compared to a contraction of over 22 per cent in the first quarter of the last fiscal year. Growth in manufacturing and construction sectors also underscored that the economy was coming back on track after a record contraction in the first half of 2020-21 because of the Covid-induced national lockdown. But the second wave has derailed that recovery. Most states have imposed lockdowns to contain the spread of the virus.