New Delhi: The Central government Friday borrowed and transferred Rs.6,000crores as first tranche to 16 States namely Andhra Pradesh, Assam, Bihar, Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Meghalaya, Odisha, Tamil Nadu, Tripura, Uttar Pradesh, Uttarakhandand 2 Union Territories: UT of Delhi and UT of Jammu and Kashmir. The transfer is toward the GST compensation to the States.
The borrowing is at an interest rate of 5.19 percent.It is intended to make weekly releases of Rs.6,000 croreto the States.Tenor of borrowing is expected to be broadly in the range of 3 to 5 years.
