9911796707
TMI Blog16th Instalment of 5,000 crore released to the States to meet the GST compensation shortfall.X X X X Extracts X X X X X X X X Extracts X X X X ..... 16th Instalment of 5,000 crore released to the States to meet the GST compensation shortfall. X X X X Extracts X X X X X X X X Extracts X X X X ..... 30 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 16th weekly instalment of ₹ 5,000 crore to the States today to meet the GST compensation shortfall. Out of this, an amount of ₹ 4,597.16 crore has been released to 23 States and an amount of ₹ 402.84 crore has been released to the 3 Union Territories (UT) with Legislative Assembly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (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. Till now, 86 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly. Out of this, an amount of ₹ 86,729.93 c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rore has been released to the States and an amount of ₹ 8,270.07 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India on behalf of the States and UTs. 16 rounds of borrowings have been completed so far starting from 23rd October, 2020. The amount released this week was the 16th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 4.6480%. So far, an amount of ₹ 95,000 crore has been borrowed by the Central Government through the special borro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing window at an average interest rate of 4.7831%. In addition to providing funds through the special borrowing 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-I to meet GST compensation shortfall to help the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m in mobilising additional financial resources. All the States have given their preference for Option-I. Permission for borrowing the entire additional amount 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 Stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es 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 passed on to the States/UTs till 15.02.2021 (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 50 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 51 2167.20 2 Arunachal Pradesh* 143 0.00 3 Assam 1869 932.42 4 Bihar 3231 3661.70 5 Chhattisgarh 1792 1833.65 6 Goa 446 787.61 7 Gujarat 8704 8647.89 8 Haryana 4293 4081.14 9 Himachal Pradesh 877 1610.17 10 Jharkhand 1765 996.13 11 Karnataka 9018 11634.88 12 Kerala 4,522 3729.00 13 Madhya Pradesh 4746 4259.37 14 Maharashtra 15394 11231.97 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Manipur* 151 0.00 16 Meghalaya 194 104.97 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 19 Odisha 2858 3584.17 20 Punjab 3033 5405.84 21 Rajasthan 5462 3622.50 22 Sikkim* 156 0.00 23 Tamil Nadu 9627 5852.85 24 Telangana 5017 1703.56 25 Tripura 297 212.15 26 Uttar Pradesh 9703 5633.14 27 Uttarakhand 1405 2172.07 28 West Bengal 6787 2865.55 Total ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A):
106830
86729.93
1
Delhi
Not applicable
5499.96
2
Jammu & Kashmir
Not applicable
2130.51
3
Puducherry
Not applicable
639.60
Total (B):
Not applicable
8270.07
Grand Total (A+B)
106830
95000.00
* 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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