CNBC-TV18: Centre Owes Rs 48,000 Crore to States as GST Compensation

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Govt Sources tell CNBC-TV18 that centre owes Rs 48,000 cr to states as GST Compensation; looking for ways to raise funds.

Centre Owes Rs 48,000 Cr To States As GST Compensation

  • Govt Looking For Ways To Raise Funds Govt Owes States Rs 14,036 Cr As GST Compensation For Oct-Nov 2019; Rs 33,946 Cr For Dec 2019-Jan 2020
  • Centre To Ask GST Council To Suggest Ways To Enhance GST Revenues & Pay Compensation Dues
  • Centre To Raise The Matter When GST Council Meets In New Delhi On Mar 14
  • Average Revenue Gap Across India Increased From 14% In FY19 To 23% In FY20
  • Only 5 States Have A Revenue Surplus In FY20: Arunachal Pradesh, Mizoram, Manipur, Nagaland & Sikkim
  • Rise In Revenue Gap Has Led To A Surge In Funds Needed To Pay States Compensation
  • Average MoM Growth In Gross GST Revs Has Fallen From 16% In March 2019 To 8% In Feb 2020