All the states have now opted for the special window for the goods and services tax (GST) compensation with Jharkhand also choosing that option. All the three union territories with legislatures which are part of the GST Council have already chosen the window.
The Centre has set up the window to borrow on behalf of states the shortfall arising out of the GST implementation. The window has been operationalised since October 23 and the Centre has borrowed an amount of Rs 30,000 crore on behalf of the states in five instalments and passed it onto the states and union territories.
Now Jharkhand will also receive funds raised through the window from the next round of borrowing on December 7. That day the Centre will borrow Rs 6,000 crore for all states and three UTs.
The states who opt for the special window also get permission from the Centre to borrow 0.5 per cent of their respective gross states domestic product (GSDP) from the markets. As such, Jharkhand has been given permission to borrow an additional amount of Rs 1,765 crore.
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