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.
A joint team of the State Archaeological Directorate and Archaeological Survey of India (ASI) on
The Bharatiya Janata Party has released its manifesto for the Haryana Assembly elections. Union M
DoNER Gets 29.4 Percent Higher Allocation
New Delhi, Feb 28 (IANS) The Development of North Eastern Region (DoNER) ministry saw a 29.43 p
Diesel-Petrol has become costlier by Rs 30 per liter in Pakistan from midnight tonight. Pakistan'
नई दिल्ली: प्रधान मंत्री नरेंद्र मोद
With Kalpa Vriksha App, Chandigarh team bags Global Challenge
Chandigarh, Feb 3 (IANS) Providing a link between blood donors and those in dire need has enabl
The horrific terrorist attack in Pahalgam, Kashmir has shaken the entire country. About 26 innoce
Delhi Government Free Ration Scheme: Delhi Chief Minister Arvind Kejriwal has made a big announce
The world witnessed the strict attitude of the administration of Donald Trump towards China and d
The Election Commission will announce the dates of the assembly elections in the capital, Delhi,
