Punjab chooses Option-1 to meet the GST implementation shortfall
GST
Dated:- 30-11-2020
Punjab chooses Option-1 to meet the GST implementation shortfall
26 States and all Union Territories with Legislative Assembly have favoured Option-1
Punjab will get ₹ 8,359 Crores through special borrowing window to meet the GST implementation shortfall
Permission to raise additional ₹ 3,033 Crores through borrowings also issued to Punjab
Governments of Punjab has communicated acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 26. All the 3 Union Territories with Legislative Assembly (i.e. Delhi, Jammu & Kashmir and Puducher
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tting 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 crores. On receipt of the choice of Option-1 from the Government of Punjab, the Government of India has granted additional borrowing permission of ₹ 3,033 crores to the State Government of Punjab(0.5% of Punjab's GSDP).
The amount of additional borrowing permission granted to 26 States and the amount of funds
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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
Punjab #
3033
0.00
19
Rajasthan
5462
645.06
20
Sikkim*
156
0.00
21
Tamil Nadu
9627
1816.66
22
Telangana
5017
164.41
23
Tripura
297
66.04
24
Uttar Pradesh
9703
1748.29
25
Uttarakhand
1405
674.27
26
West Bengal #
6787
0.00
Total (A):
103273
21472.16
1
Delhi
Not applicable
1706.93
2
Jammu & Kashmir
Not applicable
661.21
3
Puducherry
Not applicable
159.70
Total (B):
Not applicable
2527.84
Grand Total (A+B)
103273
24000.00
* These States have 'NIL' GST compensation gap
# Funds will be released starting after next ro
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