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The Hindu
The Hindu
National
Special Correspondent

Centre trying to stifle States like Kerala, says Balagopal

KN Balagopal Kerala Finance

The Centre is trying to financially stifle States like Kerala by attempting to slash their borrowing limit, Finance Minister K.N. Balagopal said on Monday. In his reply to the discussion on the demands for grants in the Assembly, Mr. Balagopal said Kerala had received permission to borrow only ₹5,000 crore this fiscal, whereas, on an average, the State was eligible to borrow approximately ₹35,000 crore-₹36,000 crore a year.

GST compensation

The Centre is also yet to convey its decision on the demand made by the States to extend the Goods and Services Tax (GST) compensation period beyond June 30, 2022, Mr. Balagopal said. At the 47th GST Council Meeting held recently, all States, including Uttar Pradesh, Madhya Pradesh, Bihar, and Maharashtra made the demand, Mr. Balagopal said. Last year, Kerala had received ₹12,000 crore as GST compensation, according to him.

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