Centre transfers 1st tranche of ₹6,000 cr to states to meet GST shortfall

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Centre transfers 1st tranche of ₹6,000 cr to states to meet GST shortfall

short by Kiran Khatri / 05:16 pm on Friday, 23 October, 2020

The Centre on Friday borrowed and transferred ₹6,000 crore as first tranche to 16 states and two UTs under the special window to meet the GST revenue shortfall. The interest rate has been fixed at 5.19%. Out of the 21 states that opted for the special window, five did not have any revenue shortfall, the Finance Ministry said.