Senior Congress leader and former finance minister, Chidambaram said the 2 options given by the Modi govt to states to bridge the GST compensation gap is a gross violation of law.
Only a handful of cities and districts in India are currently publishing anywhere near the kind of Covid-related data that the Home Ministry wants states to use and consider.
The Accountability Initiative working paper says state finances were already under pressure before the Covid-19 pandemic struck due to lower tax devolution and GST compensation.
States going to assembly polls this year — Maharashtra, Haryana and Jharkhand — got a total of 10 ministers in the Modi govt, including 4 cabinet posts.
The Italian term sprezzatura—a studied nonchalance that conceals intention—best captures the spirit of Trump’s foreign policy so far. The pattern is unpredictability, transactionalism, and disruption as diplomacy.
With 20.2 percent of its total loans in default by the end of last year, Bangladesh had the weakest banking system in Asia. Despite reforms, it will take time to recover.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
If Jaitley had been there he would have found a work around compromise, in his typical style. Mme Sitharaman is temperamentally incapable of that.
One way could be for Center and States to share the burden and borrowing from RBI be at 50: 50 levels.
Why can’t the GST Council discuss such compromise fomulas ? The Centre cannot just give a suggestion and walk away. SItharaman seems to have done just that.. Tomorrow, the States may in desperation start levying local taxes and to hell with the laws.
I have not been able to fathom the importance given by press to Shri Chidambaram, currently out on bail. It was under his active activity and guidance that Indian economy became one of the Fragile Five.
You idio.
In these Covid times, when GOI has not been able to collect sufficient GST, because of lockdown and international business scenario, how could center give GST, to the tune of previous years??
Disgusting .
This is a very problematic situation. Just because all states come together and ask for money doesn’t magically create money. The covid and also the preceeding slow down has hit revenues. What did the states do to make economic growth a priority? And this man and this party should be last to talk about states begging for money. An unelected planning commission created by an executive order made CMs feel like beggers because that body became more powerful in devolving money than the Finance Commission. Let’s all sit and find a solution.
It would be better to offer solutions – indiscriminate borrowing for unneeded expenditure seems terrible economics. Wouldn’t it be better to have each state do a detailed re-budgeting in light of the COVID crisis and work out gap funding? Measures like cost control – PPP should be used more to … maybe?
If Jaitley had been there he would have found a work around compromise, in his typical style. Mme Sitharaman is temperamentally incapable of that.
One way could be for Center and States to share the burden and borrowing from RBI be at 50: 50 levels.
Why can’t the GST Council discuss such compromise fomulas ? The Centre cannot just give a suggestion and walk away. SItharaman seems to have done just that.. Tomorrow, the States may in desperation start levying local taxes and to hell with the laws.
I have not been able to fathom the importance given by press to Shri Chidambaram, currently out on bail. It was under his active activity and guidance that Indian economy became one of the Fragile Five.
You idio.
In these Covid times, when GOI has not been able to collect sufficient GST, because of lockdown and international business scenario, how could center give GST, to the tune of previous years??
Disgusting .
This is a very problematic situation. Just because all states come together and ask for money doesn’t magically create money. The covid and also the preceeding slow down has hit revenues. What did the states do to make economic growth a priority? And this man and this party should be last to talk about states begging for money. An unelected planning commission created by an executive order made CMs feel like beggers because that body became more powerful in devolving money than the Finance Commission. Let’s all sit and find a solution.
It would be better to offer solutions – indiscriminate borrowing for unneeded expenditure seems terrible economics. Wouldn’t it be better to have each state do a detailed re-budgeting in light of the COVID crisis and work out gap funding? Measures like cost control – PPP should be used more to … maybe?