Jaitley assures Bengal full support for industrial growth


Posted on 7th Jan 2015 05:31 pm by mohit kumar

Kolkata, Jan 7 (IANS) Union Finance and Corporate Affairs Minister Arun Jaitley Wednesday assured the Mamata Banerjee government in West Bengal of strong support in the state's industrial growth.

"I am sure when each of one of you invests in the state, I am here to assure you the central government will strongly stand behind the state government in order to support each one of the rupees and dollars that you invest in the state," Jaitley told industrialists at the inaugural session of the two-day Bengal Global Industrial Summit here.

Jaitley said West Bengal will be a major beneficiary of the coal auctions and steps are being taken to reduce the financial burden on the state.

"Not only are we going to pay you (West Bengal) one instalment of the Central Sales Tax (CST) compensation by March 31 this year, but balance amount will also be paid in the times to come," Jaitley said.

"I have already given my commitment with regard to the CST compensation so that their fiscal position is eased," he added.

According to Jaitley, India has now reached not only an era of cooperative federalism, but also of competitive federalism, with states vying with one another for industrial supremacy.

"We are in an era of cooperative federalism - we have to cooperate with each other. We are also living in an era of competitive federalism and interested so that equity of states remain. The inequity between the western part of India and eastern part now needs to change," the union minister said.

Jaitley said the Centre has given assurance to the states that as a result of the implementation of the Goods and Service Tax (GST) no state will lose any revenue.

"In the case of West Bengal, which is predominantly a consuming state, I have least doubt in my mind that their revenue position is going to be much better in year one of the GST implementation itself," he said.

0 Like 0 Dislike
Previous news Next news
Other news

Common Eligibility Test (CET): What is it, how will it happen and what will it change?

The Central Government has decided to set up a National Recruitment Agency for admission in all g

PCB investigates Moin Khan casino controversy

Lahore, Feb 24 (IANS) The Pakistan Cricket Board (PCB) Tuesday launched an investigation agains

Maha Kumbh 2025: In this Udasi arena, the Panchdevas became a hundred Panchputras, and spent the night under the open sky in Digambara attire

On Monday, in Maha Kumbh, Shri Panchayati Bada Akhara Udasin witnessed the modern tradition of Dh

Bitcoin Price India INR: Bitcoin crashed, broke more than 50 thousand rupees, the price of the most popular cryptocurrency reached here

Bitcoin, the world's most popular cryptocurrency, has seen many bad phases since the start of the

Russia's claim on Ukraine crisis - we are not preparing for the attack, they are

Like the West, Russian media is closely following the fears of conflict in Ukraine. However, the

Tears in the eyes of Master Blaster: Kohli had given red thread to Sachin on his retirement, the last sign of his father, Sachin said – then there were tears

The great batsman of Team India played his last match on 16 November 2013. The whole country was

Abu Dhabi Mandir: Mahant Swami Maharaj arrives in Abu Dhabi to inaugurate the BAPS Hindu Temple, PM Modi will attend the ceremony

Spiritual guru Mahant Swami Maharaj of BAPS Swaminarayan Sanstha arrived in Abu Dhabi on Tuesday

Team India's tour of Sri Lanka: Rahul Dravid will be the coach of the Indian team captained by Dhawan; ODI and T20 series to be held from July 13

Former India captain and National Cricket Academy (NCA) chief Rahul Dravid will be the coach for

Parliament security breach: Mastermind Lalit Jha had burnt the phones of his associates before surrender, police suspect a big conspiracy

Parliament security breach: Lalit Jha, the mastermind who breached the security of Parliament Hou

What is North Korea going to do? Kim Jong Un is making nuclear weapons more modern

Countries around the world keep their eyes on Kim Jong, the dictator of North Korea, almost all t

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash