West Bengal Finance Minister Amit Mitra said Tuesday the GST compensation fund is falling way short of the level required to fully bridge the state governments’ GST revenue shortfall, while criticising the Centre for delays in release of funds to the state under centrally sponsored schemes.
Speaking to reporters on the sidelines of a CII event here, he said, “West Bengal was supposed to get GST compensation of Rs 2,406 crore for January. But we didn’t get that. We are afraid we may not get the GST compensations for February and March. Moreover, the Centre is depriving West Bengal of its due share of taxes (from the divisible pool).”
“We have not yet received Rs 37,973 crore from the Centre on account of the centrally sponsored schemes. This fiscal, the Centre has reduced West Bengal’s share by Rs 11,000 crore in tax devolution. On the other hand, revenue from the Central cesses and surcharges (which are not required to be shared with states) have increased three fold in the last five years,” Mitra added. —FE
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