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As GST Collections Decline, Govt. Plans to Borrow Additional Rs. 50,000 cr
December 29, 2017
Observing the consistent decline of the Goods and Services Tax collections, the government has decided to borrow an additional Rs. 50,000 crores via gilts, an amount that’s double than what’s estimated earlier.
In the first half year, the government had borrowed Rs. 3.72 lakhs and estimated a requirement of additional Rs. 2.08 lakh for the second half. As for the direct and indirect revenue collection, the government had estimated a shortfall of Rs. 20,000 crores, and Rs. 25,000 to Rs. 35,000 crores respectively.
GST collections have been declining on a steady basis. From Rs. 83,350 crores collection in October they dropped to Rs. 80,808 crores in November.
