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Finance Ministry releases Rs. 6,000 crore to states to address shortfall in GST revenue

They are Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand, Delhi and Jammu and Kashmir.

Ministry of Finance in a statement said that the borrowing is at an interest rate of 5.19 percent.

It is intended to make weekly releases of  six thousand crore rupees to the States.

It said, tenor of borrowing is expected to be broadly in the range of 3 to 5 years.

The Government  has evolved a special borrowing window to address the shortfall in the GST collection during the year 2020 – 2021.  

21  States and two Union Territories opted for this special window involving back-to-back borrowing coordinated by the Ministry of Finance.

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