It said those state governments which have a larger portion of their revenue receipts dependent on GST compensation, face greater revenue and liquidity risk as collection from the cess would be adversely impacted during the year.
Gross domestic product likely contracted by 1.9 percent in the first three months of 2020, and is set to shrink by a whopping 9.8 percent year-on-year in the second quarter as companies feel the pain from widespread shutdowns.
Official figures showed previously that the economy shrank 0.1 per cent in the last three months of 2019, meaning that with two consecutive quarters of negative growth, the country is now technically in recession.
The International Labour Organization (ILO) in its report titled 'ILO Monitor 2nd edition: COVID-19 and the world of work', describes coronavirus pandemic as "the worst global crisis since World War II".
As on September 30, 2018, India had around 3.2 crore registered construction workers of which the highest were in Uttar Pradesh at 42 lakh followed by 31 lakh in West Bengal, 30 lakh in Madhya Pradesh, 29 lakh in Tamil Nadu and 22.5 lakh in Odisha.
The country is under a 21-day lockdown as part of efforts to curb spreading of coronavirus infections. On the first day of the countrywide lockdown, Chand said some reports came that farmers had to throw their perishable produce on the road.