GST Council meet: Govt to borrow Rs 1.58 trn for compensation shortfall

The Centre on Friday proposed market borrowing to the tune of Rs 1.58 trillion to compensate states for the  goods and services tax  shortfall through back-to-back loans, like last year. But several states expressed discontent, calling it “gross underestimation” of projected revenue losses. States’ demand for the extension of the compensation period beyond June 2022 will be taken up in a…