Ninth instalment as part of GST compensation shortfallKerala has received ₹313.92 crore from the ninth instalment released to the States by Union Finance Ministry as back to back loan to meet the Goods and Service Tax (GST) compensation shortfall. The ₹6,000 crore has been borrowed by Centre this week at an interest rate of 5.15 per cent. So far, an amount of ₹54,000 crore has been borrowed by the Central Government through the special borrowing window at an average interest rate of 4.74 per cent. The Centre has already granted additional borrowing permission of ₹4,522 crore to Kerala (0.5 per cent of Kerala’s GSDP). The State has got ₹1,583.88 crore as compensation, sources in the Finance Department said.

Source: The Hindu December 29, 2020 17:35 UTC