State seeks cess on SGST, increased borrowing limit

Special Assembly session on August 30 to discuss flood havoc
The Kerala government is looking forward to imposition of a 10% cess on State GST and rise in its borrowing limit from the present 3% to 4.5% of the Gross State Domestic Product (GSDP) to raise sufficient resources for the post-floods reconstruction challenges that Kerala faces. A special meeting of the State Cabinet on Tuesday decided to request the GST Council to permit it to impose a 10% cess on State GST and approach the Central government to get its borrowing limit raised. The State hopes to mop up around Rs. 10,500 crore from the open market by raising the borrowing limit.
Source : https://www.thehindu.com/todays-paper/tp-national/kerala-seeks-cess-on-sgst-increased-borrowing-limit/article24748415.ece 

About ChinmayaIAS Academy - Current Affairs

Check Also

HUMAN DEVELOPMENT INDEX

CONTEXT: India ranked 131 among 189 countries on the Human Development Index (HDI) for 2019, …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates