The Center has released loans in lieu of GST compensation. The states and union territories together released Rs 44,000 crore. The Center has released Rs 1.59 lakh crore so far in the current financial year. Revenue fell by half to half. States are desperately trying to get out of that crisis. Focused on revenue streams. So the Center has stepped in to give a boost to the states.
GST has released Rs 44,000 crore under debt in lieu of compensation. Of this, Telangana has 12 hundred 64.78 crores and AP has 905.59 crores. The total loans disbursed by the Center during the current financial year stood at Rs 1.59 lakh crore. 75,000 crore on July 15; On October 7, it released a loan of Rs 40,000 crore. Thursday released Rs 44,000 crore. The loans were decided at the GST Council meeting on May 28, 2021.
The central government has decided to borrow Rs 1.59 lakh crore and lend it to the states and union territories on a back-to-back basis. The shortfall in compensation was due to a decrease in funds raised for the GST Compensation Fund. The Center is giving loans to cover the deficit.