GST shortfall situation becomes clearer, govt may have to borrow $22 billion more to pay states

Any additional borrowing will replicate an arrangement followed last financial year, where New Delhi borrowed Rs 1.1 lakh crore on behalf of the states and passed them on as back-to-back loans, the people said. The decision on the extra borrowing, the amount and the timing would be made after consulting with the Reserve Bank of India and states.

from Economy-News-Economic Times https://ift.tt/3umZ0Z4