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

'A silence that...', Alia Bhatt wrote an emotional note for the Indian Army, then why did she get trolled?

After the Pahalgam terror attack, India destroyed the terrorist hideouts through Operation Sindoo

Ranveer Allahbadia Controversy: Comedian Gaurav Kapoor took a dig at Ranveer, said- who apologized so quickly

After Ranveer Allahabadia's objectionable statement in Samay Raina's show 'India's Got Latent', h

Experts give thumbs up to government's swine flu strategy

New Delhi, March 3 (IANS) The government strategy to handle swine flu cases in the country got a

Ram temple symbolizes national unity and spirit

Prime Minister Narendra Modi laid the foundation stone of Shri Ram Janmabhoomi Temple in Ayodhya

IIT Guwahati: President Murmu inaugurates Param Kamrup Super Computer Facility at IIT-Guwahati

President Draupadi Murmu on Thursday inaugurated and laid the foundation stone of various project

Kejriwal admitted to Bengaluru hospital for cough treatment

Bengaluru, March 5 (IANS) Delhi Chief Minister Arvind Kejriwal was on Thursday admitted to a pr

COP-26 Climate Summit: PM Modi said, no one is untouched by the threat of climate change

In the ongoing CAP-26 Climate Summit in Glasgow, PM Modi said that the launch of 'Infrastructure

India-Bangladesh: India is cautious not only about the present but also about the future, and will have to maintain a flexible attitude given the investment of billions of dollars

India has full sympathy for Sheikh Hasina and it will continue in the future as well. But while e

Mayawati to hold 14 Election Rallies in Delhi

Lucknow, Jan 26 (IANS) Bahujan Samaj Party (BSP) chief Mayawati would be addressing 14 election

ICMR extends the use of hydroxychloroquine, now these people can also use

New Delhi, PTI The Indian Council of Medical Research (ICMR) has given a revised consultation on

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