The Ministry of Finance has confirmed that it has released the 17th weekly instalment of Rs 5,000 crore to the States to meet the GST compensation shortfall. The amount has been borrowed this week at an interest rate of 5.5924 percent.
Out of this, an amount of Rs 4,730.41 crore has been released to 23 States and an amount of Rs 269.59 crore has been released to the 3 Union Territories (UT) with Legislative Assembly.
So far, an amount of Rs 1,00,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.8307 percent.
Till date, 91 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly.