The 42nd GST Council meeting is underway in New Delhi. Finance Minister Nirmala Sitharaman is chairing the meeting through video conferencing. Minister of State for Finance Anurag Thakur and Finance Ministers of States and Union Territories are present at the meeting.

In the last meeting of GST council, Centre had given two borrowing options to States to meet GST compensation requirement for the current financial year. States can borrow either 97 thousand crore rupees from a special window facilitated by the RBI or two lakh 35 thousand crore rupees from the market.

Finance Ministry sources said, 21 States had opted to borrow 97 thousand crore rupees to meet the GST revenue shortfall in the current fiscal.