New Delhi: The Ministry of Finance today released the 11th weekly instalment of Rs.6,000 crore to the States 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.
Now, 60 percent of the estimated GST compensation shortfall has been released to the States & UT with Legislative Assembly. Out of this an amount of Rs.60,066.36 crore has been released to the States and an amount of Rs.5,933.64 crore has been released to the 3 UTs with Legislative Assembly.
The amount has been borrowed this week at an interest rate of 5.1057%. So far, an amount of Rs.66,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7271%.
– global bihari bureau
