Govt Sources tell CNBC-TV18 that centre owes Rs 48,000 cr to states as GST Compensation; looking for ways to raise funds.
Centre Owes Rs 48,000 Cr To States As GST Compensation
- Govt Looking For Ways To Raise Funds Govt Owes States Rs 14,036 Cr As GST Compensation For Oct-Nov 2019; Rs 33,946 Cr For Dec 2019-Jan 2020
- Centre To Ask GST Council To Suggest Ways To Enhance GST Revenues & Pay Compensation Dues
- Centre To Raise The Matter When GST Council Meets In New Delhi On Mar 14
- Average Revenue Gap Across India Increased From 14% In FY19 To 23% In FY20
- Only 5 States Have A Revenue Surplus In FY20: Arunachal Pradesh, Mizoram, Manipur, Nagaland & Sikkim
- Rise In Revenue Gap Has Led To A Surge In Funds Needed To Pay States Compensation
- Average MoM Growth In Gross GST Revs Has Fallen From 16% In March 2019 To 8% In Feb 2020
Source: https://twitter.com/CNBCTV18Live/status/1237771462431240193