Central Govt. Releases 16th Installment To Meet GST Compensation Shortfall
On Monday, the Finance Ministry of India has released the 16th installment of Rs 6000 crores to the states to help them meet the GST compensation shortfall.
The central government has released Rs 5516.60 crores to 23 states and Rs 483.40 crores to Delhi, Jammu & Kashmir & Puducherry.
The government has released Rs 95,000 crores up till now through a special borrowing window. Out of the total amount Rs 86,729 crores have been released to the states and Rs 8270 crores have been released to Delhi, Jammu & Kashmir & Puducherry.
Earlier, the central government had asked the states and UTs to accept Rs 1.1 lakh crore GST borrowing plan to meet the GST shortfall. 86% of the total amount has been transferred to the states.