GST Council to mull market borrowings to bridge shortfall in compensation cess collection

Apart from the Centre and states, which have raised their market borrowing plans for the current fiscal amid huge revenue shortfall, the Goods and Services Tax (GST) Council may also take an unprecedented step by resolving to tap the market to bridge the shortfall in compensation cess collection and ensure that states’ guaranteed revenue growth of 14% year-on-year is protected, government sources…