GST overhaul leaves Kerala facing ₹8,000-10,000 crore shortfall
Kerala will face an annual revenue shortfall of ₹8,000-10,000 crore after the recent GST rate cuts, state Finance Minister KN Balagopal said on September 4. While welcoming the reduction in GST slabs for easing consumer prices, he urged the Union government to ensure the benefits reach ordinary people and compensate states for the steep revenue loss.