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Centre releases GST payout of Rs 1,703.56 for Telangana

Centre releases GST payout of  Rs 1,703.56 for Telangana
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Centre releases GST payout of Rs 1,703.56 for Telangana

Highlights

The Finance Ministry on Monday released 16th weekly instalment of Rs 5,000 crore to the States to meet the GST compensation shortfall, taking the total amount released so far to Rs 95,000 crore

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Hyderabad: The Finance Ministry on Monday released 16th weekly instalment of Rs 5,000 crore to the States to meet the GST compensation shortfall, taking the total amount released so far to Rs 95,000 crore.

Till now, 86 per cent of the total estimated GST compensation shortfall has been released to the States and Union Territories (UTs) with legislative assembly. Further, additional borrowing permission of over Rs 1.06 lakh crore was granted to the States.

As part of that amount raised through special window passed on to Andhra Pradesh is Rs 2,167.20 crore and Rs 1,703.56 for Telangana.

The Centre set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs1.10-lakh crore in revenue due to GST implementation.

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