Karnataka Cabinet to borrow 33,000 crore to tide over crisis

Two weeks ago, the Centre placed two options before the states to compensate for the sharp drop in the GST revenues due to the pandemic. Karnataka opted for the first option under which the Centre will bear the entire principal and interest payments out of the GST cess levied on sin and luxury items.

from Economy-News-Economic Times https://ift.tt/3c6wLGC