Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
Notice (8): Undefined variable: urlPrefix [APP/Template/Layout/printlayout.ctp, line 8]latest-news-updates/bengal-kerala-agree-to-centre-s-gst-borrowing-formula.html"/> LATEST NEWS UPDATES | Bengal, Kerala agree to Centre's GST borrowing formula | Im4change.org
Resource centre on India's rural distress
 
 

Bengal, Kerala agree to Centre's GST borrowing formula

-The Telegraph

Three states — Punjab, Jharkhand and Chhattisgarh — have not accepted the proposals yet

Bengal and Kerala have dropped their opposition to the Centre’s borrowing option to bridge the gap in the Goods and Services Tax revenue receipts.

The two states have opted for the limited borrowing option under which the Centre will borrow funds and pass them on to the states but the debt will be recognised in the balance sheets of the states.

The debt will be serviced using the proceeds from the GST compensation cess collected from luxury and sin goods such as tobacco, cars and aerated drinks.

The number of states that have opted for the limited borrowing formula is now 25. Three states — Punjab, Jharkhand and Chhattisgarh — have not accepted the proposals yet, saying the Centre should borrow the entire Rs 1.83 lakh crore of shortfall.

Union territories Delhi, Jammu and Kashmir and Puducherry have also decided in favour of the special window facilitated by the Centre. The finance ministry statement said the two state governments have communicated their acceptance of the scheme and will get Rs 10,197 crore through the special borrowing window.

Please click here to read more.