The Centre has placed two options before the GST Council for borrowing by states to meet the shortfall in GST revenues, pegged at Rs 2.35 lakh crore in the current fiscal.
The 41st GST Council meeting began at 11 am and was chaired by Finance Minister Nirmala Sitharaman. Union Minister of State for Finance and Corporate Affairs Anurag Thakur and finance ministers of all the states and Union Territories were also present at the GST Council meeting.
In wake of the coronavirus outbreak, compensation cess collection has plunged in the last few months. The states, therefore, have been asking the Centre for compensation, pegged at Rs 2.35 lakh crore in the current fiscal.
The Centre has placed two options before the GST Council for borrowing by states to meet the shortfall in GST revenue. What are these options? What all happened at the council meet? Find out in this edition of Big Story.First Published on Aug 27, 2020 10:36 pm