How cooperative federalism and GST Council almost imploded on compensation shortfall issue in 2020

The Goods and Services Tax (GST) Council was launched in 2017 with the promise of cooperative federalism. However, 2020 would be remembered as the year that saw the breakdown of the spirit of federalism in the GST Council. Even after multiple meetings exclusively to resolve the compensation issue, the GST Council failed to reach a consensus on borrowing options that had been provided by the C…