Bengaluru: The lockdown has resulted in a loss of Rs 8,500 crores direct tax revenue to the state exchequer. This is expected to affect the developmental activities in the state.

According to an estimation done by the state finance department, in the last one and half months the state government collected Rs.2,500 crores in the form of direct tax.

“This includes Rs.1,000 crores from petrol and diesel tax, and Rs.1,500 crore tax from the commercial tax department,” added sources.

“In this period, the state government had set a target of Rs.11,000 crores direct tax collection. With all the activities being shutdown due to the lockdown, the state exchequer is witnessing a huge loss,” added authorities.

Meanwhile, FKCCI, apex body of various trade bodies in the state estimated a loss of Rs.1.5 lakh crores in last one and half months due to lockdown. The FKCCI sought an immediate relief to all the sectors to ensure that they will survive beyond the lockdown.