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.
BJP leader and Uttar Pradesh Chief Minister Yogi Adityanath has arrived in Himachal Pradesh today
Russia spoke about India's stand on Ukraine, said many things - Know
Russia has welcomed India's stand on Eastern Ukraine in the United Nations Security Council.
Iran's President Ibrahim Raisi has threatened America to avenge the death of General Qasim Soleim
India defeated West Indies by seven wickets in the second test played in Delhi. India achieved th
New Delhi, March 24 (IANS) Prime Minister Narendra Modi will attend the funeral of former Singa
Wholesale Inflation: Wholesale inflation reached 21-month low of 5.85% in November
India's wholesale inflation eased to a 21-month low of 5.85 percent in November, according to dat
Openly said Taiwan- China wants to occupy our country like Taliban
Taiwan's Foreign Minister Joseph Wu has said that China wants to occupy its country like the Tali
Pakistan is nervous after India attacked Pakistan. Pakistan's condition is so bad that it is now
Prime Minister Narendra Modi reached Ahmedabad on the birthday of his mother Heeraben. The PM was
Computex 2022: Coming Soon Amazing AMD Ryzen 7000 'Zen 4' Desktop Processor, Amazing Features
AMD always has exciting announcements at Computex and this year is no different. AMD has announce
