Analysis: Center allocates Rs 75,000 crore to Gujarat through advance loan of Rs 6,151 crore, back-to-back loans for loss of GST compensation

5618 crore was allotted to Gujarat for 5 years and 533 crore for 2 years
This loan for 5 and 2 years releases 50% of 1 year amount in one week
The highest advance loan to Karnataka, Maharashtra second, Gujarat third
The Ministry of Finance has provided back-to-back lending facility of Rs. 75,000 crore has been provided. This amount is in addition to the normal payment of GST compensation paid per month from the aggregate of total actual cess. Gujarat gets Rs. 6151 crore has been allocated, out of which Rs. 5618 crore for 5 years advance loan, while Rs. 533 crore has been allotted for two years security, the remaining amount will be paid in the second half of 2021-22.
GPSC 439 Account Officer, Executive Engineer, Assistant Engineer Civil/Mechanical/Electrical Recruitment 2021
At a recent council meeting, it was submitted by the state finance ministers that the states were having difficulty in meeting their expenses due to low GST revenue, which led the central government to take loans from the RBI and allocate loans to those states as needed. Loans given to states will be recovered from future GST revenue. Rs. 68,500 crore on a five-year loan and Rs. 6,500 crore has been paid to the state government for two years of security. On the one hand, the state government has said that the revenue from SGST has increased and on the other hand, Rs. 6,000 crore debt.
KOTAK 811 ACCOUNT, HIGHEST INTEREST PAYING DIGITAL ACCOUNT
Two young women who were hesitant to climb a mountain at an altitude of 6300 feet suddenly fell down - watch this video only if you have the courage
Rs. This amount of Rs. 1.59 lakh crore will be in addition to the compensation of Rs. States and Union Territories (with legislatures) have agreed to this arrangement for funding deficit compensation under the back-to-back lending facility. Rs. 75,000 crore is now being funded from Government of India debt in 5 years of securities, with a total of Rs. 68,500 crore and Rs. Security of Rs 6,500 crore has been issued.
The highest advance loan to Karnataka with Rs 8542 crore
State | Advance loan | For 5 years | For 2 years |
Karnataka | Rs. 8542 crore | Rs. 7801 crore | Rs. 740 crores |
Maharashtra | Rs. 6501 crore | Rs. 5937 crore | Rs. 563 crore |
Gujarat | Rs. 6151 crore | Rs. 5618 crore | Rs. 533 crore |
Punjab | Rs. 5722 crore | Rs. 5226 crore | Rs. 495 crore |
Kerala | Rs. 4122 crore | Rs. 3765 crore | Rs. 357 crores |
Uttar Pradesh | Rs. 3839 crore | Rs. 3506 crore | Rs. 332 crores |
Tamil Nadu | Rs. 3818 crore | Rs. 3487 crore | Rs. 330 crore |
Haryana | Rs. 3487 crore | Rs. 3185 crore | Rs. 302 crore |
Rajasthan | Rs. 3428 crore | Rs. 3131 crore | Rs. 297 crore |
W. Bengal | Rs. 3030 crore | Rs. 2768 crore | Rs. 262 crores |
Madhya Pradesh | Rs. 3307 crore | Rs. 3020 crore | Rs. 286 crore |
This is an advance loan, the state governments are completely bound against the central government
GST in this regard. The CAA, which is knowledgeable about the matter, said on condition of anonymity that this is a matter of drinking ghee with debt. The central government is taking loans and giving advance loans to the states. GST The government admits that there is no money in the compensation fund. The states have been given back-to-back loans for a period of 5 and 2 years. The central government will now pay only half of the compensation to the states. The central government will also issue bonds to the states in this regard.
No comments:
Post a Comment