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.
A new survey by Cambridge Mobile Telematics (CMT), one of the industry's largest telematics servi
The fight for rights is going to intensify once again in Delhi. There may be a conflict between t
A strange case has emerged in Thailand. Here a man accidentally left his wife midway during a roa
The trailer of Dasvi Official Trailer starring Bollywood actors Abhishek Bachchan, Yami Gautam, a
Campaigning for the Tripura Assembly elections is in full swing. Big leaders are visiting the sta
Mumbai Indians have become the first team in IPL history to lose the first seven matches in a row
Three Suffocate to Death in Aligarh
Lucknow, Jan 17 (IANS) Three persons died and three fell critically ill at a slaughter house i
Amid the ongoing violence in Murshidabad, West Bengal and the rhetoric being made on the Supreme
Rally for road safety among women held in Delhi
New Delhi, March 8 (IANS) A rally to promote road safety awareness among women was organised he
UN Secretary-General Antonio Guterres expressed concern over the increasing deaths in Gaza amid t
