New Delhi: The government has borrowed and gave RS 75,000 CRORE countries to redeem deficiencies in their income due to GST implementation.
The Ministry of Finance said the amount released was about half of the 1.6 lakh Rs Crore which was agreed to be borrowed in the current fiscal by the center and was reduced to America and UTS based on their resource gap.
The amount released is the addition of normal GST compensation paid in the state of the state of the collection made of Cess retribution on luxury goods and sin.
Minister of Finance Nirmala Sitharaman in a tweet said, “Nearly 50% of the total deficiency for the whole year was released in a installment”.
Due to GST: Government Loans, Provides Rs 75,000 Crore to the State
