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Centre Gives In, Decides To Borrow Rs 1.1 Lakh Cr To Compensate For States' GST Shortfall

The Finance Ministry on October 15 said that the Centre would borrow from the market to pay the GST compensation shortfall of ₹1.1 lakh crore to states, and then arrange back-to-back loans to state governments. The decision by the Centre comes as a sharp retraction of its earlier stance."This...