9911796707
TMI Blog11th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfallX X X X Extracts X X X X X X X X Extracts X X X X ..... 11th Instalment of 6,000 crore released to the States as back to back loan to meet the GST compensation shortfall X X X X Extracts X X X X X X X X Extracts X X X X ..... l borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance has released the 11th weekly 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 As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sembly (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 ₹ 60,066.36 crore ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s been released to the States and an amount of ₹ 5,933.64 crore has been released to the 3 UTs with Legislative Assembly. The Government of India had 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 implementation of GST. The borrowings are being done through this window by the Government of India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on behalf of the States and UTs. The borrowings have been done in 11 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, 28th December, 2020, 04th January, 2021and 11th January, 2021. The amount released this week was the 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1057%. So far, an amount of ₹ 66,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7271%. In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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-I to meet GST compensation shortfall to help them in mobilising additional financial resources. All the States have been given their preference for Option-I. Permission for borrowing the entire additional amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 1,06,830 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. State wise additional borrowing of 0.50 percent of GSDP allowed and amount of funds raised through special window ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed on to the States/UTs till 11.01.2021 (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 1559.07 2 Arunachal Pradesh* 143 0.00 3 Assam 1869 670.84 4 Bihar 3231 2634.14 5 Chhattisgarh 1792 1015.56 6 Goa 446 566.58 7 Guja ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rat 8704 6221.22 8 Haryana 4293 2935.98 9 Himachal Pradesh 877 1158.35 10 Jharkhand 1765 551.70 11 Karnataka 9018 8370.15 12 Kerala 4,522 2211.72 13 Madhya Pradesh 4746 3064.19 14 Maharashtra 15394 8080.35 15 Manipur* 151 0.00 16 Meghalaya 194 75.49 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 19 Odisha 2858 2578.45 20 Punjab 3033 3206.28 21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rajasthan 5462 2411.02 22 Sikkim* 156 0.00 23 Tamil Nadu 9627 4210.58 24 Telangana 5017 1077.30 25 Tripura 297 152.70 26 Uttar Pradesh 9703 4052.45 27 Uttarakhand 1405 1562.64 28 West Bengal 6787 1699.60 Total (A): 106830 60066.36 1 Delhi Not applicable 3956.63 2 Jammu & Kashmir Not applicable 1532.67 3 Puducherry Not applicable 444.34 Total (B): Not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... applicable
5933.64
Grand Total (A+B)
106830
66000.00
* These States have 'NIL' GST compensation gap X X X X Extracts X X X X X X X X Extracts X X X X
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