 "Goods and services tax, gst")
In a bid to spur spending by states amid the Covid-19 pandemic, the Centre on Thursday released as compensation nearly half of the estimated goods and services tax (GST) shortfall for the current fiscal year under the back-to-back loan facility.
The Ministry of Finance released Rs 75,000 crore of the Rs 1.59-trillion estimated as GST revenue shortfall in a single instalment, to facilitate capital spending by states, besides allowing better management of the pandemic, with most states reeling from severe fiscal stress.
The remaining amount will be released to states in the second half of the fiscal year in steady instalments.
“For effective
