The Ministry of Finance, has released the 15th weekly instalment of Rs 6,000 crore to the States today to meet the GST compensation shortfall.
Out of this, an amount of Rs 5,516.60 crore has been released to 23 States and an amount of Rs. 483.40 crore has been released to the 3 Union Territories (UT). The amount has been borrowed this week at an interest rate of 5.5288%.
So far, an amount of Rs 90,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7491%.
Till now, 81 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly.
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GST Revenue Collection for January 2021 hits all-time High