During the global pandemic of COVID-19, India weathered Cyclones Amphan and Tauktae; and now Cyclone Yaas. The economic cost of climate change can be seen in the ever-growing losses caused by cyclones. 

The shortfall in GST compensation payable to states in the current fiscal is estimated at Rs 2.69 lakh crore, of which Rs 1.58 lakh crore would have to be borrowed this year. The Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to compensate them for the shortfall in revenue arising out of GST implementation. The remaining Rs 1.58 lakh crore would have to be borrowed to meet the promised compensation to states under the Goods and Services Tax (GST) regime. As per the agenda note shared with states ahead of the GST Council meeting on Friday, the Centre estimates that although the GST revenues may see a recovery in the current financial year, there will still be a gap between the compensation need and amount raised through cess.

The National Pension System (NPS) data reveals hiring for government jobs by the central and the state governments fell to a three-year low for the financial year 2020-2021.

Mahesh Vyas, MD & CEO of Centre for Monitoring Indian Economy (CMIE), on Tuesday, said unemployment is currently evenly spread in rural and urban regions.