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GST compensation instalment released to states

By SPL CORRESPONDENT
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NEW DELHI, Dec 9 - The Centre on Wednesday released the sixth instalment of Rs 6, 000 crore to the states as back to back loan to meet the GST compensation shortfall, while Assam has been allowed to borrow Rs 1,869 crore as additional borrowing of 0.5 per cent of GSDP.

So far, Assam has raised Rs 400.24 crore through the special window passed on to the states.

As the five states of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation, they have not been allowed to make any additional borrowings, sources said, adding, Tripura has been allowed to borrow Rs 91.20 crore through the special window passed on to the states.

On Wednesday, the Ministry of Finance released the weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall. So far, permission for borrowing an additional amount of Rs 1,06,830 crore has been granted to 28 states under the provision of borrowing equivalent to 0.5 per cent of states� GSDP.

An official spokesman said that a total amount of Rs 36,000 crore has been released so far as GST compensation which is in addition to additional borrowing permission of Rs 1,06,830 crore granted to the states.

The Government of India is borrowing this amount on behalf of the states through a special borrowing window to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of GST implementation.

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GST compensation  instalment released to states

NEW DELHI, Dec 9 - The Centre on Wednesday released the sixth instalment of Rs 6, 000 crore to the states as back to back loan to meet the GST compensation shortfall, while Assam has been allowed to borrow Rs 1,869 crore as additional borrowing of 0.5 per cent of GSDP.

So far, Assam has raised Rs 400.24 crore through the special window passed on to the states.

As the five states of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation, they have not been allowed to make any additional borrowings, sources said, adding, Tripura has been allowed to borrow Rs 91.20 crore through the special window passed on to the states.

On Wednesday, the Ministry of Finance released the weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall. So far, permission for borrowing an additional amount of Rs 1,06,830 crore has been granted to 28 states under the provision of borrowing equivalent to 0.5 per cent of states� GSDP.

An official spokesman said that a total amount of Rs 36,000 crore has been released so far as GST compensation which is in addition to additional borrowing permission of Rs 1,06,830 crore granted to the states.

The Government of India is borrowing this amount on behalf of the states through a special borrowing window to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of GST implementation.

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