Chidambaram sometime back, tweeted one after the other and asked questions to the government. Chidambaram wrote in his first tweet that if this pandemic is a divine event then how would we describe the mismanagement of the economy during 2017-18, 2018-19 and 2019-20? Will the Finance Minister respond as Messenger of God.
He further wrote, Two options given to the states by the Modi government to reduce the GST compensation gap are unacceptable. In the first option states are asked to borrow by pledging their future receipts under the compensation cess. The financial burden falls entirely on the states.
Chidambaram wrote, Under the second option, states are asked to borrow from the RBI window. This is more market lending, only by a different name. Again the entire financial burden falls on the states. The central government is distancing itself from any financial responsibility. This is gross betrayal and also a direct violation of law.
Earlier, former Congress president Rahul Gandhi accused the central government that the economy had been destroyed due to demonetisation, flawed GST and failed lockdown. He tweeted, citing the Finance Minister's statement, that India's economy was devastated by three steps – demonetisation, flawed GST and failed lockdown. Apart from this, other things are lies.
Significantly, Finance Minister Nirmala Sitharaman said on Thursday that the economy has been affected by the Kovid-19 epidemic, which is a divine event and will lead to contraction in the current financial year. In the current financial year, GST revenue receipts have been estimated to decrease by Rs 2.35 lakh crore. Finance Minister Nirmala Sitharaman told reporters after the 41st meeting of the GST Council that the Center will pay for the compensation that is evidently due to GST implementation.
This post was published on August 29, 2020 2:48 pm
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