9911796707
TMI Blog12th 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 ..... 12th 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 ..... al borrowing permission of ₹ 1,06,830 crore granted to the States The Ministry of Finance, Department of Expenditure has released the 12th weekly instalment of ₹ 6,000 crore to the States today 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 Te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rritories (UT) with Legislative Assembly (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, 65 percent of the total estimated GST compensation shortfall has been released to the States & UT with Legislative Assembly. Out o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f this, an amount of ₹ 65,582.96 crore has been released to the States and an amount of ₹ 6,417.04 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... through this window by the Government of India on behalf of the States and UTs. 12 rounds of borrowings have been completed so far starting from 23rd October, 2020. The amount released this week was the 12th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 4.4315%. So far, an amount of ₹ 72,000 crore has been borrowed by the Cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral Government through the special borrowing window at an average interest rate of 4.7024%. 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 me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et GST compensation shortfall to help them 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 throug ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h 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 passed on to the States/UTs till 18.01.2021 (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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the States/ UTs 1 Andhra Pradesh 5051 1684.89 2 Arunachal Pradesh* 143 0.00 3 Assam 1869 724.96 4 Bihar 3231 2846.74 5 Chhattisgarh 1792 1184.82 6 Goa 446 612.31 7 Gujarat 8704 6723.29 8 Haryana 4293 3172.91 9 Himachal Pradesh 877 1251.83 10 Jharkhand 1765 643.65 11 Karnataka 9018 9045.61 12 Kerala 4,522 2525.64 13 Madhya Pradesh 4746 3311.4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7 14 Maharashtra 15394 8732.41 15 Manipur* 151 0.00 16 Meghalaya 194 81.59 17 Mizoram* 132 0.00 18 Nagaland* 157 0.00 19 Odisha 2858 2786.53 20 Punjab 3033 3661.36 21 Rajasthan 5462 2661.67 22 Sikkim* 156 0.00 23 Tamil Nadu 9627 4550.36 24 Telangana 5017 1206.87 25 Tripura 297 165.00 26 Uttar Pradesh 9703 4379.49 27 Uttarakhand 1405 1688.73 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 28
West Bengal
6787
1940.83
Total (A):
106830
65582.96
1
Delhi
Not applicable
4275.94
2
Jammu & Kashmir
Not applicable
1656.36
3
Puducherry
Not applicable
484.74
Total (B):
Not applicable
6417.04
Grand Total (A+B)
106830
72000.00
* 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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