The Ministry of Finance has clarified that it has released the 20th weekly instalment of Rs 4,104 crore to the States to meet the GST compensation shortfall. The amount has been borrowed this week at an interest rate of 4.9288 percent.
Out of this, an amount of Rs 4,086.97 crore has been released to 23 States and an amount of Rs 17.03 crore has been released to the 3 Union Territories (UT) with Legislative Assembly.
With this current release 100 percent of the total estimated GST shortfall has been released. Out of this, an amount of Rs 101,329 crore has been released to the States and an amount of Rs 8,879 crore has been released to the 3 UTs with Legislative Assembly.
The total amount of Rs 1,10,208 crore has been borrowed by the Central Government at a weighted average interest rate of 4.8473 percent.