GST: Union Govt To Borrow Rs 1.1 Lakh Crore And Pass It To States
The Finance Ministry on October 15 stated that it will borrow Rs 1.1 lakh crore to bridge the shortfall in the Goods and Services Tax compensation. It further stated the move will not put pressure on the Centre's fiscal deficit target either because the amount will be transferred to states as loans with minimum interest rate. Reportedly, many states have urged the Centre to borrow on behalf of them.
Tags: GST, business, State Development Loans, Compensation
Courtesy: Live Mint