75,000 crore to the states; The Center has disbursed Rs 4122 crore, GST arrears to Kerala

Highlight:

  • The central government disburses the GST arrears.
  • The Center has sanctioned 75 billion rupees.
  • Rs 4122 crore would be available to Kerala.

New Delhi: Central government has released GST arrears to union states and territories. Rs 75,000 million have been sanctioned. Rs 4122 crore would be available to Kerala. This amount is in addition to the GST compensation normally allowed to states.

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The Minister of Finance, KN Balagopal, met today with the Minister of Finance of the Union, Nirmala Sitharaman. It also requested payment of the GST arrears. This was followed by a decisive step on the part of the central government.

The Center has said that 50 percent of arrears to states will be paid in a lump sum. Kerala owes Rs 4,500 crore. Under the Center’s policy, Kerala will get Rs 3765 million in five-year security and Rs 357 million in three-year security.

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Finance Minister KN Balagopal welcomed the central government’s decision to provide GST compensation. It also welcomed the release of compensation arrears, albeit late. The Center has disbursed the GST arrears as states continue in the Kovid crisis. State governments believe that the money could be spent to solve the crisis created by the second wave of Kovid.

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