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Good News for Telangana Centre grants additional borrowing permission of Rs 5,017 cr

Good News for Telangana Centre grants additional borrowing permission of Rs 5,017 cr

Telangana has communicated its acceptance for Option-1 out of the two options suggested by the Finance Ministry to meet the shortfall in revenue arising out of GST implementation. The state has now joined 22 other states and 3 Union Territories who have opted for this option.

On receipt of the choice of Option-1 from Telangana, Centre today granted Telangana additional borrowing permission of 5,017 crore rupees.

The states 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 Centre. The window has been operationalised now and the Union Government already borrowed an amount of 18 thousand crore rupees on behalf of the states in three installments and has passed it on to 22 States and 3 Union Territories.

Now, Telangana government will receive funds raised through this window. The next installment of borrowings is likely to be released on 23rd of this month.

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