Centre approves Rs. 68,825 crore loan for 20 states, Andhra to get Rs. 5000 crore

The central government has approved Rs 68,825 crore through loans to meet the GST revenue shortfall in 20 states in the country, making it easier for those states to borrow. The decision came a day after the end of the Goods and Services Tax (GST) Council meeting on Monday. To address the shortfall arising from the implementation of the GST, the Finance Ministry has sanctioned an additional 0.50 per cent of the Gross State Domestic Product (GDP) to the states opting for Option-1 of two options. At the GST Council meeting held on August 27 this year, the Center presented two options to the states. Twenty states gave their preferences for Option-1.

These states include Andhra Pradesh, Arunachal Pradesh, Assam, Uttar Pradesh, Uttarakhand, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Odisha, Sikkim and Tripura. However, the rest of the states have not yet given the loan waiver as they have not yet announced their choice.

Meanwhile, Andhra Pradesh gives nod for central proposal abd has got a chance to borrow Rs 5,051 crore. Here are the details that show how much debt has been sanctioned to which states.

Maharashtra Rs. 15,394 crore

Uttar Pradesh Rs. 9703

Karnataka Rs. 9018 crore

Gujarat Rs. 8704 crore

Andhra Pradesh Rs. 5051 crore

Madhya Pradesh Rs. 4746 crore

Haryana Rs. 4293 crore

Odisha Rs. 2858 crores

Assam Rs. 1869 crores

Uttarakhand Rs. 1405 crores

Himachal Pradesh Rs. 877 crore

Goa Rs. 446 crore

Tripura Rs. 297 crore

Meghalaya Rs. 194

Nagaland. Rs. 157 crore

Sikkim Rs. 154 crore

Manipur Rs. 151 crore

Arunachal Pradesh Rs. 143 crore

Mizoram Rs. 132 crores