In a significant move, the central government has provided a substantial sum of Rs 5,55,121 crore between 2017-18 and 2022-23 as compensation to states for the revenue shortfall arising from the implementation of GST. This financial support aims to address the fiscal challenges faced by states during the transition to the GST regime. By providing such compensation, the government demonstrates its commitment to ensuring a smooth and equitable transition for all states, promoting economic stability and growth across the country.
