Repaying borrowed sum from market to clear GST shortfall of states during Covid on Centre’s agenda

The robust collections from the goods and services tax have put the Centre in a position to repay in advance the huge sums it borrowed from the market to clear the GST shortfall of states during the Covid period, according to finance ministry estimates. After borrowing Rs 1.1 lakh crore in 2020-21 and Rs 1.59 lakh crore in 2021-22 on behalf of states and using the GST compensation cess to repay th…