GST COMPENSATION – ODISHA & 15 OTHERS STATES WILL GET Rs. 6K Crs.

Bureau,Odishabarta

The Ministry of Finance will release Rs 6,000 Crs to 16 states including Odisha and three Union Territories today under the special window to states to meet the GST compensation cess shortfall.

The amount was raised at a weighted average yield of 4.42 per cent and will be passed on to the States/UTs at the same interest rate, which is lower than the cost of borrowings for the States and UTs.

It is worth to be mentioned that the Ministry of Finance facilitated loans of Rs 12,000 Crs till date under the Special Window to States/UTs.

A total of 21 States and three Union Territories till date have opted for the Special Window under Option I.

The loans raised by the Government of India were released on a back-to-back basis to States/UTs, in lieu of GST Compensation Cess releases.

The loans have been released to the following States and Union Territories – Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand, UT of Delhi, UT of Jammu and Kashmir and UT of Puducherry.

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