On GST, P Chidambaram stated at the moment that states want “arduous money”, not “phrases of consolation”
New Delhi:
Senior Congress chief P Chidambaram at the moment stated the Centre’s reported proposal of giving “letter of consolation” to states to borrow cash to bridge the GST compensation hole had been “simply phrases of consolation” on a bit of paper that has “no worth”.
He asserted that the states want “arduous money” and if they’re compelled to borrow, the axe will inevitably fall on capital expenditure by the states.
“Authorities says it is going to give a ‘Letter of Consolation’ to the states to borrow cash to bridge the GST Compensation hole. These are simply phrases of consolation on a bit of paper that has no worth,” Mr Chidambaram stated in a collection of tweets.
“What states want is tough money. Solely the central authorities has a number of choices and the flexibleness to lift the sources and pay the shortfall in GST compensation to the states,” the previous Finance Minister stated.
What states want is tough money. Solely the central authorities has a number of choices and the flexibleness to lift the sources and pay the shortfall in GST compensation to the states
– P. Chidambaram (@PChidambaram_IN) September 10, 2020
If the states are compelled to borrow, the axe will inevitably fall on capital expenditure by the states which have already suffered a lower, he stated.
Mr Chidambaram has been urging the federal government to take concrete measures to revive the economic system and has referred to as upon it to offer GST compensation to states, as promised to them on the time of GST implementation.
(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
