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7th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall A total amount of Rs.42,000 crore released so far to all States and UTs with legislation This is in addition to additional borrowing permission of Rs.1,06,830 granted to the States Posted On: 14 DEC 2020 4:44PM by PIB Delhi The Ministry of Finance has released the 7thweekly instalment of Rs.6,000 crore to the States to meet the GST compensation shortfall. Out of this, a
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FAQ :
The 7th weekly instalment released was Rs.6,000 crore.
A total of Rs.42,000 crore has been released to states and Union Territories so far.
The funds are being released as a back-to-back loan to meet the GST compensation shortfall experienced by the states.
Arunachal Pradesh, Manipur, Mizoram, Nagaland, and Sikkim did not receive funds as they do not have a revenue gap due to GST implementation.
The amount borrowed this week was at an interest rate of 5.1348%.
Yes, in addition to the special borrowing window, the government has granted additional borrowing permission equivalent to 0.50% of Gross States Domestic Product (GSDP) to states choosing Option-I.
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