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.
The first visit of India's high-level delegation to Taliban-ruled Afghanistan will prove to be a
The wave of expectations was defeated and Nirmala Sitharaman also presented the budget. Said 1 ho
World Architecture Festival comes to Delhi
New Delhi, March 10 (IANS) Photographs and designs of over 350 architecture marvels from 65 cou
Because of the growing military threat from China, the US State Department has approved the sale
Document leak: Court extends Sharma's Police Custody
New Delhi, Feb 28 (IANS) A court here Saturday extended the police custody of Lokesh Sharma, an
After the rebellion of minister Eknath Shinde in the Uddhav government, Shiv Sena is now standing
On Wednesday, Russia started a nuclear drill amid the ongoing war with Ukraine. During this, ball
Caps, scarves and Delhi's keen electoral battle
New Delhi, Feb 5 (IANS) In these keenly contested elections of the capital many are wearing the
China Economy: A market condition in China is bad, foreign investors are preparing to exit
After five years of the ruling Communist Party's conference in China, the stock market there has
Elevated walkway to come up at Dakshineswar temple: Mamata
Kolkata, March 17 (IANS) West Bengal Chief Minister Mamata Banerjee on Tuesday attended the fou
