Centre releases Rs 2,866 cr GST compensation - ECAS Punjab

Centre releases Rs 2,866 cr GST compensation

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Chandigarh, June 6

Hit hard by the economic cost of a long Covid-induced lockdown, Punjab got some relief with the Union Government releasing Rs 2,866 crore to the state as GST compensation.

The compensation has been given for the months of December 2019 and January and February this year, as compensation for the revenue losses incurred by the state because of the GST rollout. The Centre released the GST dues worth Rs 36,400 crore to the states and UTs on Thursday night, of which Punjab got Rs 2,866 crore.

With the GST compensation being released and the state earning another Rs 750 crore as its rural development fund and market fee on the sale of wheat, the financial situation is much better this month. — TNS



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