If the pandemic is an ‘Act of God’, how do we describe the mismanagement of the economy during 2017-18 2018-19 and 2019-20 BEFORE the pandemic struck India? Will the FM as the Messenger of God please answer?
The two options given by the Modi government to the States to bridge the GST Compensation gap are unacceptable
Under the first option the States are asked to borrow by pledging their future receivables under Compensation cess. The financial burden falls entirely on the States
Under the second option, States are asked to borrow from the RBI window. It is more market borrowing, only by a different name. Again, the entire financial burden falls on the States
The central government is absolving itself of any financial responsibility. This is a gross betrayal as well as a direct violation of the law
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