Govt releases Rs 6,000 crore for GST compensation below particular borrowing window | Economic system Information

Govt releases Rs 6,000 crore for GST compensation under special borrowing window

New Delhi: Central Authorities has launched Rs 6,000 crore as second tranche to 16 states and three Union Territories on account of GST compensation below Particular Borrowing Window.

Ministry of Finance has facilitated loans of Rs 12,000 crore until date below the Particular Window to States/UTs.

“The Ministry of Finance, Authorities of India, below its “Particular Window to States for assembly the GST Compensation Cess shortfall,” might be releasing an quantity of Rs 6000 crore as second tranche to 16 States and three Union Territories immediately. This quantity was raised at a weighted common yield of 4.42 per cent. This quantity might be handed on to the States/UTs on the identical rate of interest, which is decrease than the price of borrowings for the States and UTs, thus benefitting them.  Ministry of Finance has facilitated loans of Rs 12,000 crore until date below the Particular Window to States/UTs,” an official launch stated on Monday.

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21 States and three Union Territories until date, have opted for the Particular Window below Choice I. The loans raised by authorities are launched on a back-to-back foundation to States/UTs, in lieu of GST Compensation Cess releases.

The loans have been launched to the next States and Union Territories – Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand, UT of Delhi, UT of Jammu and Kashmir and UT of Puducherry.