Punjab gets Rs 1,237 crore as grants-in–aid

New Delhi: Central government released Rs 1,237 crore as grants-in–aid to Punjab, taking the total goods and services tax (GST) compensation to the state to Rs 14,094 crore for the period of July 2017 till March 2019.

Sources said that the amount released came from arrears of compensation for the loss of revenue for the 2017-18 and 2018-19 financial years, due to revision in base year of 2015-16 revenue. The Centre had earlier released ad-hoc GST compensation amounts of Rs 4,618 crore and Rs 8,239 crore for 2017-18 and 2018-19 financial years, respectively.

Punjab’s finance Minister Manpreet Singh Badal thanked the Centre for its financial support during the critical time created by the Coronavirus spread.