Page 10 - Gst Collection

Telangana accepts Centre's borrowing option to meet GST shortfall

Telangana has accepted Centre's borrowing proposal to meet GST revenue shortfall and will get Rs 2,380 crore through the special window. "The Government of Telangana has communicated its acceptance for Option-1 out of the two options suggested by the Ministry of Finance to meet the shortfall in revenue arising out of GST implementation.The state has now joined 22 other states and 3 Union Territories (Delhi, Jammu & Kashmir and Puducherry) who have opted for Option-1," the Finance Ministry said in a statement. The Centre has already borrowed Rs 18,000 crore on behalf of the states in three instalments and has passed it on to 22 states and 3 Union Territories on October 23, November 2 and November 9. Now Telangana will receive funds raised through this window and the next instalment of borrowings is likely to be released on November 23, the ministry added. Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall arising out ..

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