The Centre has today released Rs 93.79 crore to Meghalaya as fund raised through a special window to meet the GST compensation shortfall.
The amount was released by the Ministry of Finance, Department of Expenditure as the 14th weekly installment to meet the GST compensation shortfall.
Till now, 76 per cent of the total estimated GST compensation shortfall has been released to the State.
The Government of India had set up a special borrowing window in October, 2020 to meet the estimated shortfall of Rs. 1.10 lakh crore in revenue arising on account of implementation of GST.
The borrowings are being done through this window by the Government of India on behalf of the states and union territories. 14 rounds of borrowings have been completed so far starting from October 23, 2020.
In addition to providing funds through the special borrowing window to meet the shortfall in revenue on account of GST implementation, the Government of India has also granted additional borrowing permission equivalent to 0.50 per cent of Gross States Domestic Product (GSDP) to the states choosing Option-I to meet GST compensation shortfall to help them in mobilising additional financial resources.
