State receives Rs 429 cr GST dues from Central government

HYDERABAD: The State government till Wednesday received the GST compensation to the tune of `429.5 crore. The Ministry of Finance released the weekly instalment of `6,000 crore to the States to meet the GST compensation shortfall. Out of which, `5,516.60 crore was released to 23 States and of `483.40 crore was released for three Union Ter ri tories on Wednesday.

The Centre borrowed this amount on behalf of the States and UTs through a special borrowing window to meet the estimated shortfall of `1.10 lakh crore in revenue arising on account of GST implementation. It may be recalled that the Centre allowed TS to raise an addition al ` 5,017 core, 0.5 per cent of the GSDP to meet the GST compensation. Meanwhile, the Ministry of Finance declared that TS was among the nine States which implemented reforms in PDS successfully. With this, the State got an additional borrowing limit of `2,508 crore. Out of the additional limit of 2% of GSDP, 0.25% was linked to the implementation of one nationone ration card system.