Centre releases Rs17,000 cr as GST compensation to states/UTs
08 Nov 2021
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The central government on Wednesday released GST compensation of Rs17,000 crore to states and union territories, taking the total amount of compensation released to the states/UTs so far during the current financial year to Rs60,000 crore.
As per the decision of GST Council, back to back loan of Rs1.59 lakh crore has already been released in lieu of shortfall in release of GST compensation during the current financial year.
State-wise GST compensation released on 3 November 2021 is as follows:
Andhra Pradesh - Rs542.99 cr
Arunachal Pradesh - Rs0 cr
Assam - Rs159.56 cr
Bihar - Rs342.33 cr
Chhattisgarh - Rs274.07 cr
Delhi – Rs1,155.09 cr
Goa - Rs163.38 cr
Gujarat - Rs1,428.41 cr
Haryana - Rs518.12 cr
Himachal Pradesh - Rs177.69 cr
J & K - Rs168.41 cr
Jharkhand – Rs264.46 cr
Karnataka - Rs1,602.62 cr
Kerala - Rs673.85 cr
Madhya Pradesh - Rs542.15 cr
Maharashtra - Rs3,053.60 cr
Manipur - Rs0 cr
Meghalaya - Rs27.78 cr
Mizoram - Rs0 cr
Nagaland - Rs0 cr
Odisha - Rs286.01 cr
Puducherry - Rs61.09 cr
Punjab - Rs834.83 cr
Rajasthan - Rs653.45 cr
Sikkim – Rs0.31 cr
Tamil Nadu - Rs1,314.43 cr
Telangana - Rs279.19 cr
Tripura - Rs16.93 cr
Uttar Pradesh - Rs1,417.18 cr
Uttarakhand - Rs270.27 cr
West Bengal - Rs771.82 cr
Total - Rs17,000 cr
The centre had released the balance Rs44,000 crore to states under the back-to-back loan facility in-lieu of GST compensation in the previous week, taking the total to Rs 1.59 lakh crore, the full amount that the government had planned to pay to states for FY 22 for compensation shortfall.
The government had released Rs75,000 crore in July and Rs40,000 crore earlier this month, as back-to-back loan in-lieu of GST compensation shortfall, amid the Covid 19 pandemic that had severely affected revenue generation and in turn capital expenditure for states.
The back-to-back loan amount of Rs1.59 lakh crore would be over and above the compensation in excess of Rs1 lakh crore (based on cess collection) that is estimated to be released to states during this financial year.
The total amount released by the government to states now stands at Rs2.69 lakh crore for FY21 and FY 22, to meet the resource gap due to the short release of compensation on account of inadequate amount in the compensation fund.
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