For the future of Centre-state relations, Centre should borrow to fund states’ GST loss

ON THE ISSUE of compensating states for the loss of their GST revenues, in the 41st meeting of the GST Council held on August 27, the Union government had presented the states with two options. The Centre had estimated the states’ total loss of GST revenue at Rs 3 lakh crore, of which, Rs 65,000 crore was expected to accrue from the compensation cess.

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