Last week, the finance ministry had released Rs 44,000 crore to states and union territories under the back-to-back loan facility meant to compensate them for the GST shortfall.
Finance Ministry announced that it has released GST compensation of Rs 17,000 crore to states on Wednesday. It further informed that the total amount of compensation released to states and union territories, inclusive of the present disbursement, in the current financial year totalled Rs 60,000 crore.
Last week, the ministry had released Rs 44,000 crore to states and union territories under the back-to-back loan facility meant to compensate them for the GST shortfall.
It had stated that the total amount released now in lieu of the GST compensation in the current financial year totalled Rs 1.59 lakh crore. This was is in addition to normal GST compensation released every two months out of the actual cess collection.
As per the release, Maharashtra received the highest GST compensation of approx Rs 3,053.60 crore, followed by Karnataka at Rs 1,602.61 crore, Gujarat Rs 1,428.41 crore and Uttar Pradesh Rs 1,417.18 crore.
Delhi received Rs 1,155.09 crore, West Bengal Rs 771.82 crore, Punjab Rs 834.83 crore and Himachal Pradesh Rs 177.69 crore.