New Delhi: Government of Chhattisgarh has communicated its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation.
The number of States who have favoured Option-1 has gone up to 27. All States except Jharkhand and all the 3 Union Territories with Legislative Assembly have decided in favour of Option-1, said the Union government today.
The States & Union Territories 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 Government of India.
The window has been operationalised since 23 October, 2020 and the government of India has already borrowed an amount of Rs 30,000 crore on behalf of the States in five instalments and passed it on to the States and Union Territories, who chose Option-1.