Quick Summary
Rs 75,000 crore released to States and UTs with Legislature as GST Compensation shortfall Almost 50 % of the total shortfall for the entire year released in a single instalment Ministry of Finance has released today Rs 75,000 crore to the States and UTs with Legislature under the back-to-back
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FAQ :
The Ministry of Finance has released Rs 75,000 crore to the States and UTs with Legislature.
This release is a back-to-back loan facility provided in lieu of GST Compensation shortfall.
This release of Rs 75,000 crore represents almost 50% of the total shortfall for the entire year.
The release is funded from the Government of India's borrowings in 5-year securities totalling Rs 68,500 crore and 2-year securities for Rs 6,500 crore.
It is expected that this release will help the States/UTs in planning their public expenditure, including improving health infrastructure and undertaking infrastructure projects.
Yes, the balance amount will be released in the second half of 2021-22 in steady instalments.
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