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A total amount of Rs.78,000 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 13th weekly 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 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council. The remaining 5 States, Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.

Till now, 70 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly. Out of this, an amount of Rs. 71,099.56 crore has been released to the States and an amount of Rs. 6,900.44 crore has been released to the 3 UTs with Legislative Assembly.

The Government of India had set up a special borrowing window in October, 2020 to meet the estimated shortfall of Rs. 1.10 lakh crore in revenue arising on account of implementation of GST. The borrowings are being done through this window by the Government of India on behalf of the States and UTs. 13 rounds of borrowings have been completed so far starting from 23rd October, 2020.

The amount released this week was the 13th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.3083%. So far, an amount of Rs. 78,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7491%

In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have given their preference for Option-I. Permission for borrowing the entire additional amount of Rs. 1,06,830 crore (0.50 % of GSDP) has been granted to 28 States under this provision.

The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed.

13th Instalment of Rs.6,000 crore released to the States to meet the GST compensation shortfall

State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window passed on to the States/UTs till 18.01.2021

(Rs. in Crore)

S. No.

Name of State / UT

Additional borrowing of 0.50 percent allowed to States

Amount of fund raised through special window passed on to the States/ UTs

1

Andhra Pradesh

5051

1810.71

2

Arunachal Pradesh*

143

0.00

3

Assam

1869

779.08

4

Bihar

3231

3059.34

5

Chhattisgarh

1792

1354.08

6

Goa

446

658.04

7

Gujarat 

8704

7225.36

8

Haryana

4293

3409.84

9

Himachal Pradesh 

877

1345.31

10

Jharkhand

1765

735.60

11

Karnataka

9018

9721.07

12

Kerala

4,522

2839.56

13

Madhya Pradesh

4746

3558.75

14

Maharashtra

15394

9384.47

15

Manipur*

151

0.00

16

Meghalaya

194

87.69

17

Mizoram*

132

0.00

18

Nagaland*

157

0.00

19

Odisha

2858

2994.61

20

Punjab

3033

4116.44

21

Rajasthan

5462

2912.32

22

Sikkim*

156

0.00

23

Tamil Nadu

9627

4890.14

24

Telangana

5017

1336.44

25

Tripura

297

177.30

26

Uttar Pradesh

9703

4706.53

27

Uttarakhand

1405

1814.82

28

West Bengal

6787

2182.06

Total (A):

106830

71099.56

1

Delhi

Not applicable

4595.25

2

Jammu & Kashmir

Not applicable

1780.05

3

Puducherry

Not applicable

525.14

Total (B):

Not applicable

6900.44

Grand Total (A+B)

106830

78000.00

* These States have ‘NIL’ GST compensation gap

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