The central government released the first installment of Rs 6 thousand crore to these states

new Delhi. The Central Government has released the installment of deficiency of Goods and Services Tax (GST) compensation to the states. Under this, the Center has borrowed Rs 6 thousand crore and transferred it to the states.

The Finance Ministry said in a statement issued on Friday that the amount has been transferred to 16 states and two union territories. These include Maharashtra, Gujarat, Bihar, Assam, Delhi and Jammu and Kashmir. It should be known that the states ruled by the opposition parties wanted the Center to compensate for their lack of GST compensation by borrowing. This demand of the states was accepted by the Center only last week.

Center will borrow 1.1 lakh crore rupees for this
The ministry says that the Center will borrow from the market to pay states a reduction of Rs 1.1 lakh crore in GST compensation. The Finance Ministry says that the Central Government has put in place a special lending window to address the problem of declining GST collections during the financial year 2020-21. 21 states and two union territories had agreed to this.

Center has transferred money to these states
According to the Finance Ministry, the states to which the Center has transferred the first tranche of Rs 6 thousand crores are Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura , Uttar Pradesh, Uttarakhand and the two union territories Delhi and Jammu and Kashmir.

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