Expressing shock over delay in the release of Rs 4,100 crore of GST compensation to Punjab, CM Amarinder Singh tweeted, “Shocking that the Centre is delaying the GST compensation amounting to 4100 crore as compensation & arrears to Punjab. Urge PM @narendramodi ji & FM @nsitharaman ji to intervene & solve the problem which has the potential to bring governance of the state to a grinding halt.”
Earlier on November 20, Punjab Finance Minister Manpreet Singh Badal had attended meeting of the Empowered Committee of state finance ministers at New Delhi along with finance ministers of West Bengal, Kerala, Delhi and Rajasthan. They had appealed Finance Minister Nirmala Sitharaman to release the GST compensation without any delay.
“GST compensation for the month of August and September, required to be paid by the central government, sometimes in October, continues to be outstanding till date”, they had said in a joint statement.
They had said the GST comprises nearly 60 per cent of the tax revenues of the states. Many states are already facing deficits up to 50 per cent of the total GST. Such huge deficits have potential to disrupt the budget and planning processes in a host of areas, bringing activities of the states to a grinding halt.
(With PTI inputs)
/newsnation-english/media/agency_attachments/2024-07-23t155806234z-logo-webp.webp){kind=logo}
Follow Us/newsnation-english/media/post_attachments/images/2019/11/24/amarindersinghpti-553.jpg)