The Finance Ministry on Monday released the 12th instalment of Rs 6,000 crore to States to meet the GST compensation shortfall, taking the total amount released so far under this window to Rs 72,000 crore.
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of GST. The ministry in a statement said it has released the 12th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 5,516.60 crore has been released to 23 States and Rs 483.40 crore has been released to the 3 Union Territories (UT) with Legislative Assembly (Delhi, J&K & Puducherry), who are members of the GST Council.