The cess on the sale of goods and services is set to end on March 31, 2026. With states no longer being reimbursed for any shortfall in GST revenues, and loans taken to meet the deficit in the compensation cess fund set to be repaid early, the Centre faces a dilemma.
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India News: The high-level committee on 'One Nation, One Election' headed by former president Ram Nath Kovind meets economists to discuss the macroeconomic impact of harmonizing electoral cycles.
Those who participated in the meeting included Prof Chetan Ghate, Director, Institute of Economic Growth, Dr Deepak Mishra, Director and Chief Executive, Indian Council for Research on International Economic Relations (ICRIER), Prof Indira Rajaraman, Non-Resident Honorary Distinguished Fellow, Indira Gandhi Institute of Development Research (IGIDR).
Singh and Mishra presented the findings of the draft paper titled ‘Macroeconomic Impact of Harmonizing Electoral Cycles’ to the High-Level Committee on ‘One Nation One Election’ chaired by Ram Nath Kovind, former President of India.