GST Revenue Shortfall : Centre Approves Rs.68,825 Crores Loan For 20 States Including Andhra
Category: National News
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Through loans, the central government approved Rs 68,825 crore to meet the GST income gap in 20 states in the country, making it easier for those states to borrow. The decision came a day after the end of Monday 's meeting of the Goods and Services Tax (GST) Council. The Ministry of Finance has approved an additional 0.50 per cent of the Gross State Domestic Product (GDP) for states opting for Option-1 of two options in order to resolve the shortfall resulting from the implementation of the GST. The Center proposed two options to the States at the GST Council meeting held on August 27 this year. For Option-1, twenty states gave their preferences.

Andhra Pradesh, Arunachal Pradesh, Assam, Uttar Pradesh , Uttarakhand, Bihar, Goa, Gujarat, Haryana , Himachal Pradesh, Karnataka , Madhya Pradesh, Maharashtra, Manipur , Meghalaya , Mizoram, Nagaland, Sikkim, Odisha, and Tripura are among these states However, since they have not yet declared their option, the majority of the states have not yet offered the loan waiver. Andhra Pradesh, meanwhile, gives nod to the central suggestion that abd has a chance to borrow Rs 5,051 crore. Here are the specifics that indicate which states have been punished for how much debt.

Andhra Pradesh Rs. 5051 crore

Arunachal Pradesh Rs. 143 crore

Assam Rs. 1869 crores

Maharashtra Rs. 15,394 crore

Uttar Pradesh Rs. 9703

Karnataka Rs. 9018 crore

Gujarat Rs. 8704 crore

Madhya Pradesh Rs. 4746 crore

Haryana Rs. 4293 crore

Odisha Rs. 2858 crores

Uttarakhand Rs. 1405 crores

Himachal Pradesh Rs. 877 crore

Goa Rs. 446 crore

Tripura Rs. 297 crore

Meghalaya Rs. 194

Manipur Rs. 151 crore

Mizoram Rs. 132 crores

Nagaland. Rs. 157 crore

Sikkim Rs. 154 crore

14 Oct, 2020 0 125
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