In order to meet the GST compensation shortfall, the Ministry of Finance, Department of Expenditure has released the final weekly instalment of Rs 4,104 crore to the States. 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 UTs with Legislative Assembly.
With the current release, 100 percent of the total estimated GST compensation shortfall of Rs.1.10 lakh crore for the year 2020-21 has now been released to the States & UTs with Legislative Assembly. 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 amount released this week was the 20th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 4.9288%. The total amount of Rs.1,10,208 crore has been borrowed by the Central Government through the special borrowing window at an weighted average interest rate of 4.8473%.