41st GST Council meeting outcome : Key highlights

41st GST Council meeting outcome : Key highlights
1. States were given two options by central Govt. to make up for their revenue shortfall amid the Covid-19 pandemic. 
The options will only be available in the current year.

  • To provide a special borrowing window by consulting with the RBI
  • to meet the entire GST compensation gap of Rs 2.35 lakh crore this year itself after consulting with the RBI.

2. States will be given 0.5% FRBM relaxation for market borrowing
3.Finance Minister said the states will be given for seven days to consider both the options to consider.

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