scorecardresearch
Follow Us:
Friday, October 23, 2020

GST Council can vote on borrowing options: Amit Mitra on compensation

West Bengal Finance Minister Amit Mitra said the Council has to find a way to reach consensus, but didn’t explicitly rule out voting.

By: ENS Economic Bureau | New Delhi | October 10, 2020 12:55:35 am
west bengal global summit, bengal business sumit, Jagdeep Dhankhar, amit mitra, west bengal newsWest Bengal Finance Minister Amit Mitra.

Speaking ahead of Monday’s Goods and Services Tax (GST) Council meeting, West Bengal Finance Minister Amit Mitra on Friday refuted the argument that the Council lacked the authority to vote on the issue of borrowing as the loan options were conveyed to states by the Council secretariat.

At the earlier meeting on October 5, at least 10 states insisted the Centre should borrow to compensate states for revenue shortfall.

Mitra said the Council has to find a way to reach consensus, but didn’t explicitly rule out voting. He said the Centre was consistently shifting the goalpost on the special window to be provided for states if they choose to borrow under ‘option 1’ of the proposal.

“Written text on the proposal says a special window would be provided for borrowing, but Expenditure Secretary has said that only a letter of comfort could be worked out. Who are we to believe,” Mitra questioned.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Business News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement