Quick Summary
A total amount of Rs.90,000 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 15th weekly instalment of Rs.6,000 cror
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FAQ :
A total of Rs.90,000 crore has been released to states and Union Territories with legislatures to meet the GST compensation shortfall.
The 15th weekly instalment released is Rs.6,000 crore.
The shortfall is being funded through a special borrowing window set up by the Government of India in October 2020, with borrowings being done on behalf of the states and UTs.
The latest instalment was borrowed at an interest rate of 5.5288%. So far, funds have been borrowed at an average interest rate of 4.7921%.
Yes, states choosing Option-I to meet the GST compensation shortfall have been granted additional borrowing permission equivalent to 0.50% of their Gross State Domestic Product (GSDP), amounting to Rs.1,06,830 crore.
Arunachal Pradesh, Manipur, Mizoram, Nagaland, and Sikkim did not receive funds as they do not have a revenue gap on account of GST implementation.
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