The Central government has released the ninth instalment of Rs 6,000 crore GST compensation payment to the states. The states and union territories have so far received Rs 54,000 crore of the `1.1 lakh crore to be disbursed by the Centre this fiscal.
The central government borrows the funds under a special window and passes it on to states in back-to-back loan arrangement. The interest rate for the latest loan instalment was 5.15% while the average rate for the entire borrowing so far is at 4.74%, the government said.
While 23 states have been allotted Rs 5,516.6 crore in this round of weekly instalment, the remaining money (Rs 483.4 crore) has been released to the 3 union territories with legislative assembly (Delhi, Jammu & Kashmir & Puducherry) which are members of the GST Council.
“The remaining 5 states,…