Goods and Services Tax – GST Dated:- 14-10-2020 – News – Tamil Nadu goes for Option-1, gets permission to borrow an additional amount of ₹ 9,627 crore 21 States now allowed to mobilize ₹ 78,452 crore in addition to ₹ 1.1 lakh crore to meet the shortfall arising out of GST implementation The Department of Expenditure, Ministry of Finance, has today granted permission to Tamil Nadu to raise an additional amount of ₹ 9,627 crore through open market borrowings. The permission was issued after the State formally communicated its acceptance for Option-1 to meet the shortfall arising out of GST implementation. 21 States and 2 Union Territories, Delhi and Jammu Kashmir, have so far requested Option-1.
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
or Option-1 out of the two options suggested by the Ministry of Finance . Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out of GST implementation, States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of GSDP out of the 2% additional borrowings permitted by the Government of India, under Atmanirbhar Abhiyaan on 17 th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. Twenty States who were granted the permission yesterday were – Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizo
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =