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.
Sanvi Sudeep, daughter of well-known South actor Kiccha Sudeep, is in the news these days. Recent
Announcement of captains of eight teams for IPL 2021, captains of these 2 teams have been changed
New Delhi IPL 2021 Captains list: The 14th season of the Indian Premier League i.e. IPL is starti
Under-pressure Natarajan claims she stopped mining in Goa
Panaji, Jan 31 (IANS) Former union minister for environment and forests in the erstwhile UPA go
Bangladesh beat India by 5 runs in the second ODI. With this victory, Bangladesh has taken an una
According to Pakistan Prime Minister Imran Khan, rising inflation in the country has snatched his
Strictness on Delhi-NCR borders, Gurugram border jam, large number of people gathered
Neighboring states have once again tightened their borders due to the rise in corona virus cases
Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi recorded his statement in the defa
Lehmann unfazed by ICC’s Crackdown on Bad Behaviour
Melbourne, Feb 11 (IANS) Australian cricket coach Darren Lehmann appears to be ignoring the Int
Ranbir is the only tenth pass boy of the Kapoor family, said - there was a great party
The Kapoor family has been ruling the entertainment industry for many decades. An interesting thi
Recognize skill sets in armed forces to Create in India: Experts
New Delhi, March 6 (IANS) The skills ministry will soon tie-up with the defence ministry to tak
