
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.
On Tuesday, 16 people were injured in a shooting at a subway station in New York, USA, while thre
Sanctions to be banned in Maharashtra from 8 pm tonight, know what will be closed
Because of the fast-growing cases of Corona in Maharashtra, strict restrictions will be imposed t
Pakistan Rangers violate Ceasefire in Kathua, Jammu Districts
Jammu, Jan 22 (IANS) Pakistan Rangers resorted to unprovoked firing on three BSF posts in Kathu
Salman Khan loves his younger sister Arpita Khan Sharma very much. There is a great bond between
The chances of survival of eight workers trapped there after a part of the tunnel of the Srisaila
Due to Israeli attacks in the Gaza Strip, a large number of Palestinians are leaving Gaza and ent
Preparations for the G20 summit are in full swing in the national capital. Several areas of Delhi
Nitish Kumar doubts BJP: Party planning to oust him like Maharashtra, accused of breaking the party
In Bihar, the tussle with the alliance partner of the ruling Janata Dal-United is increasing. One
Because of the growing military threat from China, the US State Department has approved the sale
Ukraine has accused Russia of violating the ceasefire. Russian President Vladimir Putin announced