Karnataka Chief Minister Basavaraj Bommai on Saturday said here that the Union minister of Finance, Nirmala Sitharaman has agreed to release pending GST compensation of Rs 11,400 crore to the state.
“Union Finance Minister Nirmala Sitharaman has agreed to release state’s pending GST compensation in instalments every month as early as possible,” he said.
Along with timely release of regular compensation this year, Sitharaman has also agreed to provide Rs 18,000 crore of loan amount to the state, Bommai said.
“She further consented to cooperate in all possible ways to release funds for implementation of centrally sponsored schemes in Karnataka. She has asked me to come with specifics in this regard. On my next visit I will come with required specifics for further discussions,” he explained.
“We also discussed about extension of agricultural financing schemes for the state from the National Bank of Rural Development (NABARD) to create infrastructure for farmers,” Bommai said further.
Chief Minister Bommai had also interacted with finance ministry for the release of pending GST funds when he was home minister in former chief minister Yediyurappa’s cabinet.