
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.
Russian President Vladimir Putin has threatened to intensify the attacks after several missile at
IND vs AUS: Australian captain Tim Paine told why David Warner is very important for the team
Australian captain Tim Paine said in Sydney on Wednesday that the mere presence of David Warner m
Yogi government wants CBI investigation of the Hathras under the supervision of the Supreme Court
The Yogi government wants a CBI probe under the supervision of the Supreme Court in the alleged g
Coal India Trade Unions to hold talks with Centre Feb 16
Kolkata, Feb 5 (IANS) Five trade unions of state-owned Co
Rahul Gandhi is once again on a foreign tour. Congress on Tuesday clarified that Rahul has gone t
TCS rate has been increased from five percent to 20 percent on foreign tour packages and sending
Indian captain's strategy against Pakistan: We will be relaxed... and will focus on the target
T20 World Cup has started in Australia. Three days later, on 23 October, Team India will start th
Wheat Export: Western countries only suffer due to sanctions imposed on Russia: President Putin
Russia has said that the way Western countries have imposed illegal sanctions on Russia, due to t
Shashi Tharoor: What changes will Tharoor bring if he becomes Congress President? he answered it
Now only five days are left in the election for the post of Congress President. In this regard, b
Congress' Krishna Tirath joins BJP (Lead)
New Delhi, Jan 19 (IANS) In a jolt to the Congress ahead of Delhi assembly polls, Krishna Tirat