06 January 2021 Current Affairs:
The 10th Instalment of Rs 6,000 crore was issued to the States as a back-to-back loan to meet the GST compensation shortfall.
Highlights:
♦ The Ministry of Finance has issued the tenth instalment of 60 billion rupees a week to the states to make up for the shortage of goods and services tax compensation.
♦ The money has been released to 23 states and 3 UTs with legislative assemblies.
♦ The remaining 5 states (Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim) have no income gap due to the implementation of GST.
♦ Now, more than 50% of the estimated GST compensation shortfall has been issued to the States & UTs with legislative assemblies.
