GST compensation: Centre transfers Rs 6,000 crore as first tranche to 16 states, 2 UTs
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New Delhi, Oct. 23 -- To compensate the Goods and Services Tax (GST) shortfall, the central government has borrowed and transferred Rs.6,000 crore as the first tranche to 16 states and union territories under special borrowing window, the finance ministry said on Friday. The interest rate has been fixed at 5.19%. The tenor of borrowing will be broadly in the range of 3 to 5 years, finance ministry added.
The 16 states and union territories are Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, MP, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, UP, Uttarakhand, Delhi and Jammu and Kashmir.
The central government will borrow Rs.1.1 lakh crore under the special window to meet the shortfall of GST compen...
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