Jaitley assures Bengal full support for industrial growth


Posted on 7th Jan 2015 05:31 pm by mohit kumar

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.

0 Like 0 Dislike
Previous news Next news
Other news

Anti-hijab girls pick up guns: Military training with Kurdish fighters; Kurdistan fighters fiercely opposed to the Iranian government

Anti-hijab girls in Iran have waged a war of words against the dictatorial government. Many anti-

Murder of two brothers in Badaun: Encounter of main accused Sajid, Inspector injured; Know the entire incident till now

Ayush (13) and Ahaan (6), two sons of contractor Vinod Thakur, were murdered by slitting their th

Rishi Sunak said – China is a big threat to the world: British PM's number one claimant said – I will change policy on the very first day if I become PM

Rishi Sunak of Indian origin, who is considered to be at the fore in the race for the post of Pri

Prophet remarks row: Kuwait's big action on the protesters will deport the migrants who participated in the demonstration

Instructions have been issued to arrest migrants from the Fahheel area who demonstrated after Fri

Inflation: The world is suffering due to inflation, after America, the inflation rate in Britain reached the peak of 30 years

People across the world, including India, America, and Pakistan, are suffering due to inflation.

Modi to launch Delhi poll campaign Jan 10, BJP to counter AAP

New Delhi, Jan 1 (IANS) Prime Minister Narendra Modi will Jan 10 formally kick off the BJP's ca

NGT: The UP government should take swift action in the matter of pollution in Ganga, NGT gave instructions

The National Green Tribunal (NGT) has asked the Uttar Pradesh government to act expeditiously in

Surya Grahan 2023: Will Hybrid Solar Eclipse be visible in Bihar or not, how will it be affected?

What is Hybrid Surya Grahan: The first solar eclipse of the year 2023 took place on the day of Va

India lacks specialists who can prepare budget: RBI Governor

Panaji, Feb 20 (IANS) There are far too few people in the government who can even prepare a bud

Bigg Boss 19: Not Tanya, but this contestant won the first week, became number one with the most votes

In the first week of Bigg Boss 19, there was a lot of fun in the house. Farhana Bhatt scolded Bas

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash