New Delhi, July 15

The Union Finance Ministry has released Rs 75,000 crore to the states and UTs with legislatures under the back-to-back loan facility in lieu of the GST revenue shortfall. The amount is in addition to normal GST compensation being released every two months out of the actual cess collection.

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The ministry has frontloaded the release of assistance under the back-to-back loan facility during 2021-22 with Rs 75, 000 crore or almost 50% of the total shortfall for the entire year in a single instalment. The balance will be released in the second half of 2021-22 in steady instalments. The frontloading is to help the states plan their public expenditure. — TNS