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.
Raveena Tandon is in the headlines these days. A video of Raveena went viral on the previous day,
PM Modi gave 543.28 crore projects, said - Bihar has been a big contributor to nation-building work
All major political parties have stepped up their preparations in the wake of the Bihar Assembly
Potato farmer kills self in Bengal, toll four this month
Kolkata, March 21 (IANS) A potato cultivator in West Bengal's Burdwan district died on Saturday
Shramik special trains, Train list, Train news, Ticket Booking: Railways have changed the rules f
Ghaziabad Metro line's cost won't increase
Ghaziabad, Feb 27 (IANS) The Ghaziabad Development Authority Friday said the project cost of 9.
In an age of drones, kites a big draw in Goa (Human Interest Feature)
Panaji, Jan 27 (IANS) In an age of bullet-spitting US drones, good old kites with traditional in
Sanju Samson has created history for Rajasthan Royals. Sanju Samson has become the player to
IPL and PSL will clash in 2025, who will suffer?
All the world's legendary cricketers play in both the Indian Premier League (IPL) and the Pakista
Google Pixel Foldable: Google launched Google Pixel 7 Series at an event and along with it Google
Indian Army honours martyrs of Kashmir gunfight
Srinagar, Jan 28 (IANS) The army held a wreath laying ceremony here Wednesday to honour Colonel
