Union Finance Minister Nirmala Sitharaman on Monday said that the Centre cannot borrow from the market but will facilitate the states in borrowing and added that the impact would not be as severe if states were to borrow. Addressing a press conference after the GST Council meeting, Sitharam said no consensus was arrived on a matter on which differences exist, apparently hinting at GST compensation dues to states. “Increased borrowed costs is not something we can afford at a time when India is looking at more money to invest and to borrow to do business. The impact would not be as severe if states were to borrow. States borrowing does not mean a chaotic situation,” she said.
