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Centre releases GST compensation to Telugu states, Andhra Pradesh gets Rs. 1810 crore
Centre releases GST compensation to Telugu states, Andhra Pradesh gets Rs. 1810 crore
While the states are facing huge losses due to the GST policy, the centre is providing compensation in installments.
While the states are facing huge losses due to the GST policy, the centre is providing compensation in installments. In this backdrop, the central government has recently released another GST installment and is taking steps to offset the losses faced by many states with the GST policy. The last installment was released in December last year and now once again Union Finance Ministry compensated the state with yet another installment.
In this context, the Union Finance Ministry on Monday released GST compensation of Rs 3,174.15 crore to the two Telugu states. While Rs 1,336.44 crore has been released to Telangana as part of the Special Borrowing Plan, Rs 1,810.71 crore has been released to Andhra Pradesh.
It is knew that the states had repeatedly appealed for GST compensation with Chief Ministers requesting Prime Minister Narendra Modi and the union finance ministers. Hence, the central government is releasing GST compensation on installment basis.
