Daijiworld Media Network - Bengaluru (MS)
Bengaluru, May 24: The financial reserve with the state government was almost nil due to lockdown. However, due to relaxation announced in lockdown 4.0, the state treasury is reviving slowly.
The state government gave an opportunity for commercial activities in phases in order to sustain the financial reserve with the administration.
In April, the first month of the fiscal year of 2020-21, the state incurred huge loss in the form of tax revenue as almost all the commercial activities had to be stalled. However, towards the end of April and especially in the month of May the finances have shown good recovery if not in the expected lines.
This has allowed the state government to heave a sigh of relief.