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GST Compensation Financing May Debut A New Type Of Government Borrowing — Exclusive
Government is suggesting a special issue of state bonds, which, for all practical purposes, would be backstopped by the centre.
The central government’s proposal to states to finance a shortfall in compensation cess for the current financial year may bring to the markets a new kind of government security. This security, if states accept the proposal, would in some ways be a hybrid of central government and state government bonds.The centre has suggested two options to the states. The first, being discussed actively, includes a Rs 97,000 crore borrowing plan v...
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