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
