Rs 6000 cr to the states has been given by the center as a 6th installment concerning as a back loan so to furnish the GST shortfall, with the amount of Rs 36000 cr via a special window.
Out of this amount of Rs. 5,516.60 crore has been issued to 23 states and Rs.483.40 crore to 3 union territories such as Jammu & Kashmir & Puducherry and Delhi. The rest of the 5 states Manipur, Mizoram, Arunachal Pradesh, Nagaland, and Sikkim possess nil revenue with respect to GST (Goods and Services Tax).
“The amount has been borrowed this week at an interest rate of 4.2089%,” said by adding the average interest rate lied at 4.7106%.
The states have been permitted with Rs 1,06,830 cr for some more additional borrowing relevant to 0.5% of the GDP of the states. The centre will now borrow the 1.1 lakh crore loan option and give it to the states on a back to back basis.
With other forms of the situation, the center gives the two options Rs 97,000 crore and Rs 2.35 lakh crore to meet the GST shortfall. The Centre has chosen the first option so to enhance the borrowing of Rs 1.1 lakh cr while no state was interested in the 2nd option.
The borrowing options were ignored by the states like Jharkhand, Chhattisgarh, Punjab, West Bengal, and Kerala has now opted for the 1st option.
