Seventh installment of GST released to states, Center released Rs 6000 crore

new Delhi: State governments were constantly demanding GST dues from the Modi government at the center. Meanwhile, the Modi government at the Center has released the arrears of GST to the states. Modi government has released the 7th installment of Rs 6,000 crore GST to the states to meet the lack of GST compensation.

The Central Government has released Rs 6000 crore for GST compensation. Under this, Rs 42000 crore has been released to all states and union territories in seven installments so far. This is in addition to the lending permission of Rs 1,06,830 given to them. A total of 5516.60 crores has been released to 23 states. Apart from this, Rs 483.40 crore has been released to three assembly constituencies (Jammu and Kashmir, Delhi and Puducherry) which are members of the GST Council.

Credit window

Explain that the Central Government had established a special lending window in October this year to meet the estimated reduction of Rs 1.10 lakh crore in revenue due to the implementation of GST. Borrowing is being done through this window started by the states and union territories through the center.

A statement issued by the Finance Ministry said that the amount released now was the 7th installment of funds provided to the states. This week, this amount has been borrowed at an interest rate of 5.1348 percent.

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