9th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall

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..... 9th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall
GST
Dated:- 28-12-2020

9th Instalment of ₹ 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall. A total amount of ₹ 54,000 crore released so far to all States and UTs with legislation This is in addition to additiona .....

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..... l borrowing permission of ₹ 1,06,830 lakh crore granted to the States The Ministry of Finance has released the 9thweekly instalment of ₹ 6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of ₹ 5,516.60 crore has been released to 23 States and an amount of ₹ 483.40 crore has been released to the 3 Union Territories (UT) with Legislative .....

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..... 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. The Government of Indiahad set up a special borrowing window in October, 2020 to meet the estimated shortfall of ₹ 1.10 lakh crore in revenue arising on account of i .....

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..... mplementation of GST. The borrwoings are being done through this window by the Government of India on behalf of the States and UTs. The borrowings have been done in 9 rounds. The amount borrowed so far was released to the States on 23rd October, 2020, 2nd November, 2020, 9th November, 2020, 23rd November, 2020, 1st December, 2020, 7th December, 2020, 14th December, 2020, 21st December, 2020 and 28 .....

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..... thDecember, 2020. The amount released this week was the 9th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1508%.So far, an amount of ₹ 54,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7488%. In addition to providing funds through the special borr .....

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..... owing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 % of Gross States Domestic Product(GSDP)to the states choosing Option-Ito meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have been given their preference for Option-I. P .....

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..... ermission for borrowing the entire additional amount of ₹ 1,06,830 lakh crore (0.50 % of GSDP) has been granted to 28 States under this provision. The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the States and Union Territories so far is annexed. Statewise additional borrowing of 0.50 percent of GSDP .....

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..... allowed and amount of funds raised through special window passed on to the States/UTs till 28.12.2020 (Rs. in Crore) S. No. Name of State / UT Additional borrowing of 0.50 percent allowed to States Amount of fund raised through special window passed on to the States/ UTs 1 Andhra Pradesh 5051 1307.43 2 Arunachal Pradesh* 143 0.00 3 Assam 1869 562.60 4 Bihar 3231 2208.94 5 .....

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..... Chhattisgarh 1792 677.04 6 Goa 446 475.12 7 Gujarat 8704 5217.08 8 Haryana 4293 2462.12 9 Himachal Pradesh 877 971.39 10 Jharkhand 1765 367.80 11 Karnataka 9018 7019.23 12 Kerala 4,522 1583.88 13 Madhya Pradesh 4746 2569.63 14 Maharashtra 15394 6776.23 15 Manipur* 151 0.00 16 Meghalaya 194 63.29 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 1 .....

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..... 9 Odisha 2858 2162.29 20 Punjab 3033 2296.12 21 Rajasthan 5462 1909.72 22 Sikkim* 156 0.00 23 Tamil Nadu 9627 3531.02 24 Telangana 5017 818.16 25 Tripura 297 128.10 26 Uttar Pradesh 9703 3398.37 27 Uttarakhand 1405 1310.46 28 West Bengal 6787 1217.14 Total (A): 106830 49033.16 1 Delhi Not applicable 3318.01 2 Jammu & Kashmir Not applicable 1285.29 .....

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..... 3 Puducherry Not applicable 363.54 Total (B): Not applicable 4966.84 Grand Total (A+B) 106830 54000.00 * These States have 'NIL' GST compensation gap
News - Press release - PIB .....

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