On Tuesday, the Finance Minister of India Nirmala Sitharaman informed that the Central Government of India has released the 19th installment of ₹2104 crores to the states to help them meet the GST compensation shortfall.
The government has released ₹1.06 lakh crores up till now through a special borrowing window. The central government has released ₹97,242 crores to 23 states and ₹8861.97 crores to Delhi, Jammu & Kashmir & Puducherry.
Earlier, the central government had asked the states and UTs to accept ₹1.1 lakh crore GST borrowing plan to meet the GST shortfall.
96% of the total amount has been transferred to the states.
" till now 96% GST compensation shortfall is estimated and has been released to all states and union territories" the Finance Minister said.