Central Government borrows and transfers 6,000 crore as first tranche to 16 States on account of GST compensation under Special Borrowing Window

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..... Central Government borrows and transfers 6,000 crore as first tranche to 16 States on account of GST compensation under Special Borrowing Window
GST
Dated:- 23-10-2020

The Government of .....

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..... India has evolved a special borrowing window to addressthe shortfall in the GST collection during the year 2020 - 2021. 21 States and 2 Union Territories opted for this special window involving back-t .....

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..... o-back borrowing coordinated by the Ministry of Finance. Out of these, five States did not have any shortfall on account of GST compensation. Today, the Central Government borrowed and transferred &# .....

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..... 8377; 6,000crores as first tranche to 16 States namely Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tri .....

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..... pura, Uttar Pradesh, Uttarakhandand 2 Union Territories: UT of Delhi and UT of Jammu and Kashmir. The borrowing is at an interest rate of 5.19 percent.It is intended to make weekly releases of ₹ .....

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..... ; 6,000 croreto the States.Tenor of borrowing is expected to be broadly in the range of 3 to 5 years.
News - Press release - PIB .....

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