November 28, 2020 5:36 PM

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Punjab govt communicates acceptance of Option-1 to meet revenue shortfall arising out of GST implementation: Fin Min

<span style="color: #222222;">The Ministry of Finance has said that the Punjab Government has communicated acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation. The number of States who have chosen this option has gone up to 26. </span><br />'' <br />'' <span style="color: #222222;">All the three Union Territories  Delhi, Jammu and Kashmir and Puducherry have also decided in favour of Option-1. Finance Ministry in a statement said that the States and  Union Territories who choose Option-1 are getting the amount of shortfall arising out of GST implementation through a special borrowing window put in place by the Government of India. </span><br />'' <br />'' <span style="color: #222222;">The window has been operationalised since 23rd of last month. Central Government  has already borrowed an amount of 24 thousand  crore rupees  on behalf of the States in four instalments and passed it on to the States and Union Territories, who chose Option. </span><br />'' <br />'' <span style="color: #222222;">Now the State of Punjab will also receive funds raised through this window starting from the next round of borrowing. On receipt of the choice of Option-1 from the Government of Punjab, the Centre has granted additional borrowing permission of  three thousand 33 crore rupees to the State Government.</span><br />''  

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