-The Hindu State rejects Centre’s options; to work for consensus among States. THIRUVANANTHAPURAM: Kerala has rejected the two options for Goods and Services Tax (GST) compensation mooted by the Centre at the 41st GST Council meeting earlier this week. Instead the State has asked the Centre to take a loan and provide compensation to the States. “We have decided to inform the Centre in writing that the State cannot agree to the two...
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In ‘act of god’, coercive not cooperative federalism -Rajeev Gowda and Manpreet Singh Badal
-The Hindu In bridging the GST gap, the Centre ought to help States through the Consolidated Fund of India It is beyond anyone’s imagination that the Government of India would invoke the “Force Majeure” clause against its own people. Unfortunately, this has become reality at a time when every Indian State is massively burdened by the COVID-19 crisis and governance has been severely affected. Finance Minister Nirmala Sitharaman’s statement on Thursday that the...
More »GST cess falls 42% short in FY20
-The Hindu Compensation for last fiscal paid to States using previous years’ balance of cess The Centre made up a 42% shortfall in Goods and Services Tax compensation cess collection in 2019-20 by using balance of cess from previous years, plus a transfer from the Consolidated Fund of India. Meanwhile, the GST Council, which was slated to meet this month to discuss the possibility of market borrowing to meet likely future shortfalls,...
More »Joblessness and opportunity in Tamil Nadu -Vikas Kumar, PG Babu and Poonam Singh
-The Hindu The longer-term decline in the labour participation rate can be attributed to a host of factors The COVID-19 pandemic has disrupted economies across the world and presented policymakers with the unenviable task of sustaining employment amidst lockdowns. However, the academic and political debates in India on unemployment, which is widely attributed to jobless growth amidst stagnation in the agricultural and manufacturing sectors, predate the pandemic. It will be useful to...
More »Weavers in Varanasi Pawn Jewellery, Houses for Survival - Abdul Alim Jafri
-Newsclick.in Weavers in Prime Minister Modi’s constituency, reeling under the triple blow of demonetisation, GST and lockdown, are on a week-long token protest against hiked electricity bills. Lucknow: To keep his home fires burning, Mohammad Obaid had to sell three handlooms and a wrapping machine that he had bought with his hard-earned money following demonetisation (November 2016) and the imposition of goods and services tax (GST). Now, the coronavirus pandemic-induced over three...
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