Search
GST to Cause a Rs. 9,500 cr. loss of Revenue This Year
August 24, 2017
According to a report released by India Ratings, 11 states of India will need a total compensation of Rs. 9,500 crore from the Central government this year. This is despite the fact that all Indian states combined are to grow at a Compound Annual Growth Rate (CAGR) of 16.6% in the current fiscal year over FY16 under the new Goods and Service Tax regime.
According to the rating agency, Jharkhand, J&K, and Goa would need a Rs. 3,900 crores compensation, Tamil Nadu, Punjab, Gujrat, Andhra Pradesh, Madhya Pradesh, Odisha, Himachal Pradesh and Chhattisgarh would need a Rs. 5,600 crores compensation.
