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Finance Ministry releases 13th weekly instalment of Rs 6,000 crore to states to meet GST shortfall

By Rajan Nath -- January 25, 2021 3:28 pm -- Updated:January 25, 2021 3:32 pm

GST implementation: The Ministry of Finance on Monday released the 13th weekly installment of Rs. 6,000 crore to the States to meet the GST compensation shortfall.

Out of this, an amount of Rs. 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council.

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GST implementation: Ministry of Finance released 13th weekly installment of Rs. 6,000 crore to States to meet the GST compensation shortfall.

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, 70 percent of the total estimated GST compensation shortfall has been released to the States and UTs with Legislative Assembly. Out of this, an amount of Rs. 71,099.56 crore has been released to the States and an amount of Rs. 6,900.44 crore has been released to the 3 UTs with Legislative Assembly.

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GST implementation: Ministry of Finance released 13th weekly installment of Rs. 6,000 crore to States to meet the GST compensation shortfall.

The amount has been borrowed this week at an interest rate of 5.3083 percent. So far, an amount of Rs. 78,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7491 percent.

GST implementation: Ministry of Finance released 13th weekly installment of Rs. 6,000 crore to States to meet the GST compensation shortfall.

State-wise additional borrowing of 0.50 percent of GSDP allowed and the amount of funds raised through a special window passed on to the States/UTs till January 18, 2021.

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 5051 1810.71
2 Arunachal Pradesh* 143 0.00
3 Assam 1869 779.08
4 Bihar 3231 3059.34
5 Chhattisgarh 1792 1354.08
6 Goa 446 658.04
7 Gujarat 8704 7225.36
8 Haryana 4293 3409.84
9 Himachal Pradesh 877 1345.31
10 Jharkhand 1765 735.60
11 Karnataka 9018 9721.07
12 Kerala 4,522 2839.56
13 Madhya Pradesh 4746 3558.75
14 Maharashtra 15394 9384.47
15 Manipur* 151 0.00
16 Meghalaya 194 87.69
17 Mizoram* 132 0.00
18 Nagaland* 157 0.00
19 Odisha 2858 2994.61
20 Punjab 3033 4116.44
21 Rajasthan 5462 2912.32
22 Sikkim* 156 0.00
23 Tamil Nadu 9627 4890.14
24 Telangana 5017 1336.44
25 Tripura 297 177.30
26 Uttar Pradesh 9703 4706.53
27 Uttarakhand 1405 1814.82
28 West Bengal 6787 2182.06
Total (A): 106830 71099.56
1 Delhi Not applicable 4595.25
2 Jammu & Kashmir Not applicable 1780.05
3 Puducherry Not applicable 525.14
Total (B): Not applicable 6900.44
Grand Total (A+B) 106830 78000.00

 

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