Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall
GST
Dated:- 25-11-2020
Two more States – Kerala and West Bengal choose Option-1 to meet the GST implementation shortfall
25 States and all Union Territories with Legislative Assembly have favoured Option-I
Kerala and West Bengal will get ₹ 10,197 crore through special borrowing window to meet the GST implementation shortfall.
Permission to raise additional ₹ 11,309 crore through borrowings also issued to Kerala and West Bengal.
Governments of Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen thi
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engal will also receive funds raised through this window starting from the next round of borrowings.
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, the States are also entitled to get unconditional permission to borrow the final instalment of 0.50% of Gross State Domestic Product (GSDP) out of the 2% additional borrowings permitted by the Government of India, under Atmnirbhar Abhiyaan on 17th May, 2020. This is over and above the Special Window of ₹ 1.1 lakh crore. On receipt of the choice of Option-1 from the Government of Kerala and West Bengal, the Government of India has granted additional borrowing permission of ₹ 4,522
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43
0.00
3
Assam
1869
289.54
4
Bihar
3231
1136.27
5
Goa
446
244.39
6
Gujarat
8704
2683.88
7
Haryana
4293
1266.68
8
Himachal Pradesh
877
499.74
9
Karnataka
9018
3611.17
10
Kerala #
4,522
0.00
11
Madhya Pradesh
4746
1321.98
12
Maharashtra
15394
3486.24
13
Manipur*
151
0.00
14
Meghalaya
194
32.51
15
Mizoram*
132
0.00
16
Nagaland*
157
0.00
17
Odisha
2858
1112.42
18
Rajasthan
5462
645.06
19
Sikkim*
156
0.00
20
Tamil Nadu
9627
1816.66
21
Telangana
5017
164.41
22
Tripura
297
66.04
23
Uttar Pradesh
9703
1748.29
24
Uttarakhand
1405
674.27
25
West Bengal #
6787
0.00
Total (A):
100240
21472.16
1
Delhi
Not applicable
1706.93
2
Jammu & Kashmir
Not ap
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