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Telangana gets Rs 559 cr from Centre as GST payout
Telangana gets Rs 559 cr from Centre as GST payout
The Telangana State has received Rs 559 crore from the Union government as an instalment to meet the GST compensation
Hyderabad: The Telangana State has received Rs 559 crore from the Union government as an instalment to meet the GST compensation. The Union Ministry of Finance on Monday released the seventh instalment of Rs 6,000 crore to all States and Union Territories as back-to-back loans to meet the GST compensation shortfall.
In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, officials said that the Union government has also granted additional borrowing permission equivalent to 0.50 per cent of GSDP to the states choosing Option 1 to meet the GST compensation shortfall to help in mobilising additional financial resources.
All the States have given their preference for Option 1 permission for borrowing the entire additional amount of Rs 1,06,830 crore which has been granted to 28 States under the provision. So far, an amount of Rs 42,000 crore have been borrowed by the Union government through a special borrowing window and disbursed to the states.
The officials said that under the provision, the Telangana state is entitled to get Rs 5,017 crore additional borrowing of 0.50 per cent of the GSDP.
