New Delhi, Dec 14: The latest instalment of Rs 6,000 crore was released by the centre to the states on Monday, out of which Rs 5,516.60 crore has been released to 23 states and Rs 483.40 crore has been released to 3 Union Territories (UT) with legislative assemblies (Delhi, Jammu and Kashmir, and Puducherry).
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST.
The Centre has so far borrowed Rs 42,000 crore since October and released the funds to states to meet GST compensation shortfall, the Finance Ministry said on Monday.
The latest instalment of Rs 6,000 crore was released to the states on Monday, out of which Rs 5,516.60 crore has been released to 23 states and Rs 483.40 crore has been released to 3 Union Territories (UT) with legislative assemblies (Delhi, Jammu and Kashmir, and Puducherry).
The agency, however, said that the GDP will grow by 10 per cent in FY22 on a very low base of previous fiscal year.Crisil revises FY21 GDP contraction projection to 7.7 per cent on higher economic activityIIP, CPI, retail inflation, retail inflation,Retail inflation cools down in November; food prices remain benign but veggies still costly
The remaining 5 states — Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim — do not have a gap in revenue on account of Goods and Services Tax (GST) implementation, the Finance Ministry said in a statement.
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 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 on behalf of the states and UTs.
Centre releases Rs 42,000 crore to states to meet GST compensation shortfall
