A finance ministry statement reads Rs 6,000 crore has been released on Monday, the latest in a series of weekly installments, of which Rs 5516.60 crore has been released to 23 states and Rs 483.40 crore has been released to three Union territories of Delhi, Jammu and Kashmir, Puducherry. The statement further reads the central government has borrowed Rs 42,000 crore since October to meet the shortfall in Goods and Services Tax (GST) compensation to states.
Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim are not the part as the five states has no gap in revenue, the ministry added. “The amount released this week was the 7th instalment of such funds provided to the States. The amount has been borrowed this week at an interest rate of 5.1348%. So far, an amount of Rs.42,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.7712%,” the statement read.
Seven rounds of borrowing have been done so far since October and the amounts were released to the states on October 23, November 2, November 9, November 23, December 1, December 7, and December 14. The states which choose Option 1 can also borrow the entire additional amount of Rs 106,830 crore (0.50 per cent of GSDP) under the provision to borrow funds equivalent to 0.5 per cent of their Gross States Domestic Product (GSDP) , the statement said.
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