Centre needs to borrow and make up for states’ GST losses: Kelkar

The central government has no other go, but to borrow from the market and make up for states’  Goods and Services Tax (GST)  losses even though this obligation is “overly generous" in the present circumstance, said  Vijay Kelkar , former finance secretary and chairman of the 13th finance commission. Kelkar, who had advised the Centre to bring in the GST back in 2004, said in a paper…