Karnataka gets first GST component tranche 

The Central government on Friday borrowed and transferred Rs 6,000 crores as the first tranche of the GST component to 16 states, including Karnataka.

Published: 24th October 2020 02:59 AM  |   Last Updated: 24th October 2020 07:14 AM   |  A+A A-

GST Council

For representational purposes

By Express News Service

BENGALURU:  The Central government on Friday borrowed and transferred Rs 6,000 crores as the first tranche of the GST component to 16 states, including Karnataka. The other states are Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhand and the Union Territories of Delhi and Jammu and Kashmir.

The borrowing is at an interest rate of 5.19 per cent. The Centre intends to make weekly releases of Rs 6,000 crore to the states. The tenure of borrowing is expected to be broadly in the range of 3 to 5 years.
The Centre has evolved a special borrowing window to address the shortfall in GST collection in the year 2020–2021, and 21 States and two UTs opted for this special window involving back-to-back borrowing coordinated by the Ministry of Finance.

Now we are on Telegram too. Follow us for updates
TAGS
GST
India Matters

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

Videos
Gallery