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The GST compensation shortfall released to States has reached to one lakh six thousand crore rupees. Finance Ministry has released the 19th weekly instalment of two thousand 104 crore rupees to the States to meet the GST compensation shortfall. Out of this, an amount of over two thousand 103 crore rupees has been released to seven States and an amount of five lakh has been released to the Union Territory of Puducherry.
The Ministry said, till now, 96 percent of the total estimated GST compensation shortfall has been released to the States and Union Territories with the Legislative Assembly. Out of this, an amount of over 97 thousand crore rupees has been released to the States and an amount of over eight thousand crore rupees has been released to the three Union Territories with the Legislative Assembly.
The Central Government had set up a special borrowing window in October last year to meet the estimated shortfall of one lakh 10 thousand crore rupees in revenue arising on account of implementation of GST. The borrowings are being done through this window by the Government on behalf of the States and UTs.
