Ministry of Finance has released 10th weekly instalment of Rs 6000 crore loan to the states to meet the GST compensation shortfall.
The Government has borrowed this amount at an interest rate of 4.6892 percent on behalf of the States and UTs through a special borrowing window to meet the estimated shortfall of Rs.1.10 lakh crore.
Out of Rs 6,000 crore released this week, an amount of Rs 5,516.60 crore has been given to 23 states and Rs 483.40 crore has been released to the 3 union Territories.
A total of Rs 60,000 crore has been released so far. With this, more than 50 percent of the estimated GST compensation shortfall has been released to the States & UT with Legislative Assembly.