Centre should give guarantee for GST Council borrowing: Kerala FM

We are expecting a 15% decline in the state GDP in FY 21, said Issac Thomas

Kerala Finance Minister Thomas Isaac tells Dilasha Seth that the GST Council should be allowed to borrow from the markets to make up for the state’s GST shortfall. The issue was taken up at the 40th GST Council meeting  held on Friday, but was deferred for the July meeting. Isaac says that most BJP states were lukewarm to the idea and wanted to get into the legality of it. Edited excerpts:
 

What was the broad direction of deliberations on fixing compensation mechanism for states to offset the GST shortfall?
 

Kerala proposed that the GST Council should be allowed to borrow