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Government releases Rs 2,104 crore as 19th installment of GST compensation shortfall to states
Government releases Rs 2,104 crore as 19th installment of GST compensation shortfall to states
Finance Ministry has released the 19th weekly instalment of Rs 2,104 crore to the States to meet the GST compensation shortfall.
Finance Ministry has released the 19th weekly instalment of Rs 2,104 crore to the States to meet the GST compensation shortfall. Out of this, an amount of over Rs 2,103 crore has been released to seven States and an amount of Rs five lakh has been released to the Union Territory of Puducherry.
With this, so far the GST compensation shortfall released to States has reached Rs 1.06 lakh crore.
The Ministry said, till now, 96 per cent of the total estimated GST compensation shortfall has been released to the States and Union Territories with the Legislative Assembly. Out of this, an amount of over Rs 97,000 crore has been released to the States and an amount of over Rs 8,000 crore has been released to the three Union Territories with the Legislative Assembly.
The Central Government had set up a special borrowing window in October last year to meet the estimated shortfall of Rs 1,10,000 crore in revenue arising on account of implementation of GST. The borrowings are being done through this window by the Government on behalf of the States and UTs.
