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    13 states give consent to borrowing options proposed by GST Council

    13 states give consent to borrowing options proposed by GST Council

    13 states give consent to borrowing options proposed by GST Council
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    By Timsy Jaipuria   IST (Updated)

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    13 states have given their consent to borrowing options proposed by GST Council to meet compensation shortfall, Finance Ministry sources informed CNBCTV-18. 

    13 states have given their consent to borrowing options proposed by GST Council to meet compensation shortfall, Finance Ministry sources informed CNBCTV-18.
    "Those in agreement with option 1 are AP, Bihar, Gujarat, Haryana, Karnataka, Madhya Pradesh, Meghalaya, Sikkim, Tripura, Uttar Pradesh, Uttarakhand and Odisha," the sources said.
    On the other hand, states like Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh are likely to formally revert to centre soon, sources added.
    Manipur is the only state to have opted for Option 2. Few states said that they will submit their views directly to the finance ministry at next GST Council and are yet to decide on the options.
    States which are not in favour of any option are Delhi, Punjab, Rajasthan, Chattisgarh, Tamil Nadu, Jharkhand, Telangana, Puducherry, Kerala and West Bengal.
    In the 41st GST Council meeting held on August 27, the Centre had proposed two borrowing options for states to meet the GST shortfall. The first option proposed borrowing of Rs 97,000 crore by states with 0.5 percent FRBM relaxation, while the second option proposed borrowing of Rs 2.35 lakh crore to meet the full compensation in cess fund deficit.
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