GST compensation required by state govts for FY22 to touch Rs 2 trillion: ICRA

Rating agency ICRA on March 15 estimated that the goods and services tax (GST) compensation required by the state governments for FY22 could be between Rs 2.7 trillion and Rs 3 trillion and the shortfall in cess collections would be Rs 1.6-2 trillion. The agency has also projected the states’ enhanced borrowing limit for FY2022 at Rs 2.2 trillion. The state gover…