Finance ministry says Maharashtra, Karnataka, UP, Gujarat, Tamil Nadu reported largest shortfall in GST collections. Three BJP-ruled states agreed to borrow to meet the shortfall.
Central govt has argued that states have more headroom to borrow, but estimates suggest that states’ borrowing costs are at least 0.5 percentage points higher.
Since general government debt will rise regardless of who borrows for GST compensation, a plan to move to a sustained borrowing trajectory should be made.
Rahul Gandhi alleged that the NDA government has kept four different tax slabs to help big industrialists with means and contacts to change the taxes under the GST regime.
The bond market knows New Delhi is terrified of its wrath & is ignoring the simplest option of raising money on its own to fund states in the GST fight.
Bihar Deputy CM Sushil Kumar Modi defends central govt’s suggestion that states borrow to make up for GST shortfall, saying both sides should appreciate constraints faced by the other.
Which humanitarian crisis should be prioritised, which words are ‘simple’ enough to avoid hurt feelings, or who is a ‘true Indian’, are not questions warranting court input.
New Delhi: During Operation Sindoor, the United States which had received intelligence suggesting that India had launched BrahMos cruise missiles to strike targets inside...
COMMENTS