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New Delhi : The Finance Ministry has released the 8th weekly installment of Rs 6000 crore to the states to bridge the reduction in GST compensation. Of this, a total 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 (Delhi, Jammu and Kashmir and Puducherry), which are members of the GST Council. In the remaining 5 states – Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim – there has been no reduction in revenue due to the implementation of GST. The Government of India had arranged a special lending window in October 2020 to meet the projected shortfall of Rs 1.10 lakh crore in revenue due to the implementation of GST. The Government of India is borrowing through this window on behalf of the States and Union Territories. These borrowings are made in 8 stages. The amount borrowed so far was released to the states on October 23, 2020, November 2, 2020, November 9, 2020, November 23, 2020, December 1, 2020, December 7, 2020, December 14, 2020 and December 21, 2020, respectively. Has gone. The amount released this week was the 8th installment of such funds provided to the states. This week this amount has been borrowed at an interest rate of 4.1902 percent. The central government has so far borrowed a total of Rs 48,000 crore through a special lending window at an average interest rate of 4.6986 percent.
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