75,000 crore released to States and UTs with Legislature as GST Compensation shortfall
GST
Dated:- 15-7-2021
₹ 75,000 crore released to States and UTs with Legislature as GST Compensation shortfall
Almost 50 % of the total shortfall for the entire year released in a single instalment
Ministry of Finance has released today ₹75,000 crore to the States and UTs with Legislature under the back-to-back loan facility in lieu of GST Compensation. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.
Subsequent to the 43rd GST Council Meeting held on 28.05.2021, it was decided that the Central Government would borrow ₹1.59 lakh crore and release it to St
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have agreed to the arrangements of funding of the compensation shortfall under the back-to-back loan facility. For effective response and management of COVID-19 pandemic and a step-up in capital expenditure all States and UTs have a very important role to play. For assisting the States/UTs in their endeavour, Ministry of Finance has frontloaded the release of assistance under the back-to-back loan facility during FY 2021-22 ₹75, 000 crore (almost 50 % of the total shortfall for the entire year) released today in a single instalment. The balance amount will be released in the second half of 2021-22 in steady instalments.
The release of ₹75,000 crore being made now is funded from borrowings of GoI in 5-year securities, totalling
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2.98
2342.04
5.
Goa
364.91
34.63
399.54
6.
Gujarat
5618.00
533.10
6151.10
7.
Haryana
3185.55
302.28
3487.83
8.
Himachal Pradesh
1161.08
110.18
1271.26
9.
Jharkhand
1070.18
101.55
1171.73
10.
Karnataka
7801.86
740.31
8542.17
11.
Kerala
3765.01
357.26
4122.27
12.
Madhya Pradesh
3020.54
286.62
3307.16
13.
Maharashtra
5937.68
563.43
6501.11
14.
Meghalaya
60.75
5.76
66.51
15.
Odisha
2770.23
262.87
3033.10
16.
Punjab
5226.81
495.97
5722.78
17.
Rajasthan
3131.26
297.13
3428.39
18.
Tamil Nadu
3487.56
330.94
3818.50
19.
Telangana
1968.46
186.79
2155.25
20.
Tripura
172.76
16.39
189.15
21.
Uttar Pradesh
3506.94
332.78
3839.72
22.
Uttarakhand
1435.95
136.26
15
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