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.
Inter-faith prayer meeting condemns nun's gang rape
New Delhi, March 19 (IANS) An inter-faith prayer meeting was held in the national capital on Th
Delhi Chief Minister Arvind Kejriwal held a press conference on Saturday on the situation in Coro
Tunisha Sharma Death Case: Sheezan Khan did not get relief from the court, bail plea rejected
Tunisha Sharma Death Case: Sheezan Khan, lead actor of 'Ali Baba Dastan-e-Kabul' is in judicial c
Two billion doses of the Covid-19 vaccine were made but where did it go?
The coronavirus epidemic has proved to be devastating to the whole world. But in such a short tim
Up to 40% off on newly launched laptops from Dell, HP, and Lenovo in Amazon deals
If you want a laptop with an i3 processor that can last up to 7 hours, don't forget to check lapt
Congress appoints new spokespersons, Media panellists
New Delhi, March 24 (IANS) The Congress, in an effort to expand its media outreach, on Tuesday
Delhi Excise Policy Case The Delhi High Court will hear the petition of Chief Minister Arvind Kej
India is gearing up to host the next G20 summit. Awareness programs about the G-20 summit and get
Government emphasising on clean energy: President
New Delhi, Feb 23 (IANS) The government is emphasising on clean energy and aims to take up the
Haryana, Chandigarh on alert as 'MSG' releases Friday
Chandigarh, Feb 12 (IANS) Security arrangements across Haryana and Chandigarh were tightened Th
