 "GST compensation payout to exceed Rs 1.2 lakh crore")
The NITI Aayog projects the central government would pay nearly Rs 1.23 lakh crore as compensation to states for their revenue loss because of the introduction of the goods and service tax over a three-year period from 2017-18 to 2019-20. This is higher than the Rs 90,000 crore demanded by the states. The Aayog’s draft three-year action agenda projects a payout of Rs 37,500 crore in 2017-18, Rs 45,000 in 2018-19, and Rs 40,000 crore in 2019-20.
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