Quick Summary
17th Instalment of Rs. 5,000 crore released to the States on Friday, 19th February, 2021. 91 percent of the estimated shortfall released. The Ministry of Finance, Department of Expenditure has on Friday, released the 17thweekly instalment of Rs.5,000 crore to the States to meet the GST compens
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FAQ :
A total of Rs 1 lakh crore has been released to states and UTs with Legislative Assemblies to meet the GST compensation shortfall.
The 17th weekly instalment of Rs 5,000 crore was released on Friday, 19th February 2021.
The government established a special borrowing window in October 2020 to raise funds on behalf of the states and UTs to meet the revenue shortfall.
The estimated shortfall in revenue arising from the implementation of GST was Rs 1.10 lakh crore.
Yes, states choosing Option-I have been granted additional borrowing permission equivalent to 0.50% of their Gross States Domestic Product (GSDP) to mobilise additional financial resources.
Arunachal Pradesh, Manipur, Mizoram, Nagaland, and Sikkim do not have a revenue gap on account of GST implementation.
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