Centre transfers Rs. 6,000 crore as first tranche to Gujarat and others as GST compensationOctober 23, 2020
New Delhi: The Government of India has evolved a special borrowing window to addressthe shortfall in the GST collection during the year 2020 – 2021. 21 States and 2 Union Territories opted for this special window involving back-to-back borrowing coordinated by the Ministry of Finance.
Out of these, five States did not have any shortfall on account of GST compensation. Today, the Central Government borrowed and transferred Rs.6,000crores as first tranche to 16 States namely Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhandand 2 Union Territories: UT of Delhi and UT of Jammu and Kashmir.
The borrowing is at an interest rate of 5.19 percent.It is intended to make weekly releases of Rs.6,000 croreto the States.Tenor of borrowing is expected to be broadly in the range of 3 to 5 years.
- Three more oxygen generating plants by Vrajrajkumar led VYO inaugurated
- L&T Delivers the First Two Medical- Grade Oxygen Generation Units to Hospitals in Surat
- Gujarat Covid19 recovery rate improves to nearly 85%, active cases count sliding toward below 1 lakh
- Gujarat govt suspends Vaccination for two days across the State
- Covaxin production in Gujarat proposed
- CBI arrest two Medical Device Officers of CDSO in Gujarat in bribery case
- Rameshbhai Oza reacting to rumors clarifies he is completely healthy and well
- Cyclone Tauktae likely to cross Gujarat coast between Porbandar and Mahuva on May 18 morning