Central government may borrow Rs. 1.58 lakh crore to compensate states for tax revenue loss

12:30:00 PM, Wednesday 26th of May 2021 | in business

According to some experts, the central government may need to borrow an additional Rs. 1.58 lakh crore to compensate states for their revenue loss due to a shortfall in a nationwide consumption tax collection. The decision on borrowing the additional fund is likely to be taken in a meeting that will be held Friday. A panel on goods and services tax will meet Friday to decide about the compensation to states.