States adamant, GST meet once more ends in impasse

New Delhi, October 12

A second meeting of the GST Council on Monday ended inconclusively as 10 Opposition-ruled states stuck to their stand that the Centre should borrow money to meet the shortfall in guaranteed compensation due to them.

At the end of the GST Council meeting, Union Finance Minister Nirmala Sitharaman was clear that the Centre would not borrow on behalf of the states because it had already finalised the borrowing calendar. Any further addition would jack up the bond yields, thus making borrowings dearer for the states and the private sector. `— TNS

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