Nirmala Sitharaman Press Conference Live Updates: The FM to talk about economic issues at 12.30 pm

Finance Minister Nirmala Sitharaman will address the media on economic issues, at 12.30 pm today (October 12) at National Media Centre, New Delhi. The union minister's address will be held ahead of the GST Council meeting, which is scheduled from 4-6 pm. The GST Council in its meeting on the day is likely to discuss the suggestion of non-BJP ruled states of setting up a ministerial panel to develop consensus on the issue of compensation. The Council, chaired by Sitharaman and comprising of state finance ministers, will for the third time in a row discuss the issue of funding the shortfall of Goods and Services Tax (GST) revenue of states. While some opposition ruled states are demanding that a Group of Ministers be set up to arrive at a decision on the mechanism for funding compensation shortfall, BJP ruled states, which have already opted for the borrowing option given by the Centre, are of the view that they should be given a go ahead so that they can get money quickly. Stay tuned to this LIVE blog for the latest updates through the day.