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Chhatisgarh Accepts Centre’s ₹1.1 Lakh Crore Borrowing Plan

  • Chhatisgarh one of the opposition party ruled states has accepted the government’s GST shortfall plan thereby accepting ₹1.1 Lakh crores.

  • The state government will use the amount to meet the GST compensation shortfall.

  • Finance Ministry of India informed about the state’s decision on Thursday.

  • The Chhatisgarh government will get ₹3109 crores through a special borrowing window and will be permitted to raise an additional ₹1792 crores.

  • "On receipt of the choice of Option-1 from Chhattisgarh, the Government of India has granted additional borrowing permission of Rs.1792 crore, 0.5% of Chhattisgarh’s gross state domestic product (GSDP),"the finance ministry said.

  • The central government had asked the states and UTs to accept ₹1.1 lakh crore borrowing plan to meet the GST shortfall.