All States choose Option-1 to meet the GST implementation shortfall
GST
Dated:- 5-12-2020
* Jharkhand has become the latest State to go for Option-1
* Jharkhand will get ₹ 1,689 crore through special borrowing window to meet the GST implementation shortfall
* Permission to raise additional ₹ 1,765 crore through borrowings also issued to Jharkhand
All the 28 States and 3 Union Territories with legislature have decided to go for Option-1 to meet the revenue shortfall arising out of the GST implementation. Jharkhand, the only remaining State, has now communicated its acceptance of Option-1. All the 3 Union Territories with Legislative Assembly who are members of the GST council have already decided in favour of O
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al 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 Atma Nirbhar 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, the Government of India has granted additional borrowing permission of ₹ 1,765 crore to the State Government of Jharkhand (0.50 % of Jharkhand's GSDP).
The amount of additional borrowing permission granted to 28 States and the amount of funds raised through special window and released to the
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4746
1580.51
14
Maharashtra
15394
4167.99
15
Manipur*
151
0.00
16
Meghalaya
194
38.89
17
Mizoram*
132
0.00
18
Nagaland*
157
0.00
19
Odisha
2858
1329.97
20
Punjab
3033
475.80
21
Rajasthan
5462
907.12
22
Sikkim*
156
0.00
23
Tamil Nadu
9627
2171.90
24
Telangana
5017
299.88
25
Tripura
297
78.90
26
Uttar Pradesh
9703
2090.21
27
Uttarakhand
1405
806.10
28
West Bengal
6787
252.22
Total (A):
106830
26966.76
1
Delhi
Not applicable
2040.77
2
Jammu & Kashmir
Not applicable
790.53
3
Puducherry
Not applicable
201.94
Total (B):
Not applicable
3033.24
Grand Total (A+B)
106830
30000.00
* These States have 'NIL' GST compensation gap
# Funds will be released starting after
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