GST shortfall: Gujarat borrows Rs 16,700 cr in 6 months
(WorldNews India)

With zero compensation received from the Goods and Services Tax (GST) since March when the lockdown was announced, the Gujarat government has borrowed Rs 16,700 crore in the first six months of the current fiscal year of 2020-`21. The monthly revenues of the state are still down by 25 percent and have forced the state government to resort to Open Market Borrowings. “We follow a borrowing calendar and every month, we are experiencing a revenue shortfall of 20-25 percent. Moreover, since April, we have not received any GST compensation and will have to continue borrowing,” a senior official from the finance department of the Gujarat government told The Indian Express. The pending GST...