कपोल-कल्पित

Owing to the initial arrangement proposed by the GST council, to compensate the states for GST shortfall at the rate of 14% for 5 years, the centre now owes 3 Lakh Crore to the states. Of this amount, the Centre concurs that 97,000 Crore is of GST shortfall, and that they have no obligation to compensate the remaining amount (2.3 Lakh Crore) to the states, as it has all eroded, due to an act of god. The jurisdictional squabble and allegations of partiality that gave way to GST has the spirit of co-operative fedaralism. However, on the suggestion that states must borrow the amount themselves for the shortfall, states rightly allege that centre is bypassing the constitutional structure to operate such as suits its need and convenience. In other news, the economy has also contracted by 23.9% for the 1 st quarter. The gravity of the situation was best described by a govt. official who said “The contraction in the economy has also contracted the capabilities of recovering from...