- The borrowings will be shown as debt in the books of states and the Centre’s fiscal deficit will be unaffected, it said in a statement
- Centre will borrow a total of ₹4.88 trillion for the period starting 19 October to 31 March, said an official statement
NEW DELHI : The central government late on Thursday said it was modifying its borrowing calendar for the second half to operationalise a special borrowing window meant for states to bridge their Goods and Services Tax (GST) revenue gap.
Accordingly, the Centre will borrow a total of ₹4.88 trillion for the period starting 19 October to 31 March, said an official statement. This indicates that the total borrowing for the Centre for the current fiscal will stand at ₹13.1 trillion, compared to ₹12 trillion it said on 30 September.
“To operationalize the special window to states for meeting the GST compensation cess shortfall of ₹1,10,000 crore, the government of India’s borrowing calendar is being modified in consultation with the RBI,” said an official statement.
Source: livemint
