Centre releases Rs. 6,000 crore as second tranche to 16 states and 3 Union Territories
Ministry of Finance has facilitated loans of Rs 12,000 crore till date on account of GST compensation under Special Borrowing Window to States/UTs
New Delhi: The Finance Ministry, today releases Rs. 6000 crore as second tranche to 16 States and 3 Union Territories under its “Special Window to States for meeting the GST Compensation Cess shortfall”.
This amount was raised at a weighted average yield of 4.42 per cent and will be passed on to the States/UTs at the same interest rate, which is lower than the cost of borrowings for the States and UTs, to benefit them.
Also read: Centre borrows and transfers GST compensation to states
The Ministry has thus far facilitated loans of Rs. 12,000 crore under the Special Window to States/UTs and 21 States and 3 Union Territories have till date opted for the Special Window under Option I.
“The loans raised by GoI are released on a back-to-back basis to States/UTs, in lieu of GST Compensation Cess releases,” the ministry stated.
The loans have been released to the following States and Union Territories – Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand, UT of Delhi, UT of Jammu and Kashmir and UT of Puducherry.
– globalbihari bureau