The Ministry of Finance, Government of India has released Rs 75,000 crore to the States and Union Territories (UTs) on July 15, 2021 to compensate for the shortfall in revenue due to the implementation of GST. This amount released by the Finance Ministry is in addition to the normal GST compensation that is paid to the states on a bi-monthly basis out of the actual cess collection, the Finance Ministry informed. On May 28, 2021, the GST Council had announced that the government would borrow Rs 01.59 lakh crore and in the event of insufficient funds in the compensation fund,