32.6 C
State of Tripura
Monday, May 19, 2025

Civil Servants are the backbone of governance: CM Dr. Saha

Tripura CM Dr. Saha praised civil servants...

Union Minister lays ₹42.4 Cr Integrated Aquapark in Tripura

Union Minister lays ₹42.4 Cr Integrated Aquapark...

Ban imposed on B’deshi goods import

Ban imposed on B'deshi goods import :...

States, UTs get Rs 40,000 cr to to meet GST compensation shortfall, Tripura gets Rs 100.88 crore

Must Read

Finance Ministry on Thursday released 40,000 crore rupees to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation.

Tripure received a total of Rs 100.88 crore of which Rs 59.27 was from the 5 year tenor and Rs 41.61 was from the 2 year tenor.

Earlier on 15th July this year, 75,000 crore rupees was released to the States and UTs with legislature. With the current release, the total amount released in the current financial year as back to back loan in-lieu of GST compensation has reached to 1 lakh 15 thousand crore rupees. This release is in addition to normal GST compensation being released every 2 months out of actual cess collection.
Subsequent to the 43rd GST Council Meeting held on 28th May this year, it has been decided by the Central Government that it would borrow 1.59 lakh crore rupees in 2021-22 and release it to States and UTs with Legislature on a back-to-back basis to meet the resource gap due to the short release of Compensation on account of inadequate amount collected in the Compensation Fund. This amount is as per the principles adopted for a similar facility in Financial Year 2020-21, where an amount of 1.10 lakh crore rupees was released to States under a similar arrangement.
The amount of 1.59 lakh crore rupees to be provided to States as back to back loan would be over and above the compensation in excess of 1 lakh crore rupees based on cess collection that is estimated to be released to States and UTs with Legislature during the current financial year. The sum total of 2.59 lakh crore rupees is expected to exceed the amount of GST compensation accruing in Financial Year 2021-22.
 All eligible States and UTs with Legislature have agreed to the arrangements of funding of the compensation shortfall under the back-to-back loan facility.

- Advertisement -
spot_img
spot_img

Latest News

Operation Sindoor row: TMC pulls out Yusuf Pathan

TMC withdrew Yusuf Pathan from the Operation Sindoor delegation after the Centre included him without consulting Mamata Banerjee. TMC...