Staff Reporter / NEW DELHI
The Ministry of Finance will be releasing an amount of Rs. 6,000 crore as second tranche to 16 States and three Union Territories today under its Special Window to States for meeting the GST Compensation Cess shortfall.
This amount was raised at a weighted average yield of 4.42 per cent.
This amount will be passed on to the States and Union Territories at the same interest rate, which is lower than the cost of borrowings for the states.
Ministry of Finance has facilitated loans of 12,000 crore rupees till date under the Special Window to States and UTs.
According to the Ministry of Finance, 21 States and three Union Territories till date, have opted for the Special Window under Option-I.
The loans raised by the Central Government are released on a back-to-back basis to States and UTs in lieu of GST Compensation Cess releases.
The loans have been released to the States and Union Territories including Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Uttarakhand and Delhi.