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A total amount of Rs. 84,000 crore released so far to all States and UTs with legislature This is in addition to additional borrowing permission of Rs. 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 14thweekly instalment of Rs. 6,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to the 3 U
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FAQ :
A total of Rs 84,000 crore has been released to states and Union Territories with legislatures so far. The latest instalment released was Rs 6,000 crore.
The government of India set up a special borrowing window in October 2020 to meet the shortfall. The central government borrows funds through this window on behalf of the states and UTs.
The amount released this week was borrowed at an interest rate of 4.6144%.
Yes, in addition to the funds from the borrowing window, states choosing Option-I to meet the GST compensation shortfall have been granted additional borrowing permission equivalent to 0.50% of their Gross State Domestic Product (GSDP).
Arunachal Pradesh, Manipur, Mizoram, Nagaland, and Sikkim do not have a revenue gap on account of GST implementation.
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