Centre releases Rs. 40,000 crore to states, UTs to meet shortfall in GST compensation
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In a bid to meet the shortfall in the GST compensation, the central government has released Rs 40,000 crore to states and Union territories under the back-to-back loan facility. The funds were released after states flagged the issue in the last GST Council meeting held in Lucknow. The centre has so far released a total of Rs 115,000 crore to meet the GST compensation shortfall in 2021. Rs. 75,000 crore was released on July 15.