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Blog / 20 Oct 2020

(Video) Rajya Sabha TV (RSTV) The Big Picture: GST Shortfall: Centre to Borrow

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(Video) Rajya Sabha TV (RSTV) The Big Picture: GST Shortfall: Centre to Borrow

Topic: GST Shortfall: Centre to Borrow

Guest:

  • Shrikant Baldi, (Former Chief Secretary, Himachal Pradesh)
  • Prof. Charan Singh, (CEO, EGROW Foundation)
  • A. K. Bhattacharya, (Editorial Director, Business Standard)

Topic Description:

In what appears to be a relief for the states, the Centre has said it will borrow up to Rs 1.1 trillion, which is the estimated revenue shortfall on account of implementing goods and services tax. The centre will then lend the money to the states under a special window. The extra fund raising was reflected in the borrowing calendar released by the RBI and the finance ministry. The Centre borrowing on behalf of states is likely to ensure that a single rate of borrowing is charged and this would also be easy to administer.

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Courtesy: RSTV