Raise states borrowing limits to 5 pc of GSDP sans condition, Bengal urges FM
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Last Updated: Jun 04, 2021, 10:43 PM IST
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Synopsis You are aware that just like last year, there has been (a) sudden dip in revenue, threatening the fiscal viability of the states. In our case we have been hit by a double whammy of a second wave of Covid-19 and the cyclone Yaas, the letter read.
Agencies
He said that an 18 per cent GST on hand sanitiser is truly shocking .
The West Bengal government on Friday suggested to Union Finance Minister Nirmala Sitharaman that the borrowing limits of states be raised to 5 per cent of GSDP without any condition to save them from a financial crisis. In a letter to Sitharaman, state Finance Minister Dr Amit Mitra also expressed disappointment over the proposal of hefty GSTs on items required to fight Covid-19 at the GST Council Meeting held on May 28.
GST collection went down 42% in April 2021 in Karnataka
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AAA Signalling what could be in store for the State in terms of collection of Goods and Service Tax (GST) for the month of May, when the State was in lockdown, the collection fell by 42% from March while the COVID-19 pandemic was raging in Bengaluru.
The total GST collection, including cess, fell from ₹9,954 crore in March to ₹5,731 crore in April. This is expected to slide steeply in the month of May, the figures for which are expected this month. The fall in collection for April came after a record collection in the country in March.
India Business News: Former Union finance minister and senior Congress leader P Chidambaram on Wednesday slammed the BJP-led Centre over the issue of Goods and Services Ta