Centre today released the 13th weekly instalment of six thousand crore rupees to the States to meet the GST compensation shortfall.
Out of this, over 5,516 crore rupees have been released to 23 States and over 483 crore rupees to the Union Territories of Delhi, Jammu and Kashmir and Puducherry who are members of the GST Council. The remaining States of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of GST implementation.
Till now, 70 percent of the total estimated GST compensation shortfall has been released to the States and UTs. Out of this, over 71,099 crore rupees have been released to the States and an amount of over 6,900 crore rupees to the three UTs with Legislative Assembly.
The Central government had set up a special borrowing window in October last year to meet the estimated shortfall of 1.10 lakh crore rupees in revenue arising on account of implementation of GST. The borrowings are being done through this window by the Central Government on behalf of the States and UTs.
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