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Read more about Centre borrows less than planned amid second wave of Covid-19 pandemic on Business Standard. Compared with last year, though, the borrowing has been higher
India Business News: Indicating a massive revenue crunch due to the second wave of the pandemic that has forced many states to declare full lockdowns for almost two months
Read more about Govt borrows 55% more this fiscal as lockdowns hit revenue collections on Business Standard. The Centre has borrowed Rs 2.1 trillion so far this fiscal
GST shortfall situation becomes clearer, govt may have to borrow $22 billion more to pay states
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GST shortfall situation becomes clearer, govt may have to borrow $22 billion more to pay statesBy Vrishti Beniwal and Subhadip Sircar, Bloomberg
Last Updated: May 26, 2021, 12:55 PM IST
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Synopsis
Any additional borrowing will replicate an arrangement followed last financial year, where New Delhi borrowed Rs 1.1 lakh crore on behalf of the states and passed them on as back-to-back loans, the people said. The decision on the extra borrowing, the amount and the timing would be made after consulting with the Reserve Bank of India and states.