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November 22, 2019

Dr Amit Mitra slams Centre over failed policies, unpaid GST dues

Dr Amit Mitra slams Centre over failed policies, unpaid GST dues

Bangla Finance Minister Dr Amit Mitra on Thursday slammed the Centre for its failed policies including demonetisation, which is one of the prime reasons behind the economic slowdown.

Dr Mitra rejected the government’s claim that it is a “cyclic slowdown” and added that its “Tughlaqi” policies have finally culminated into slower growth. He went on to say that the policies of central government led to an investment paralysis, as investor confidence in the country’s leadership continued to decline.

Dr Mitra said the losses incurred due to demonetisation and GST will take years to recover and also pointed out how the entire economic cycle continues to suffer from the two measures introduced by the government in 2016 and 2017 respectively.

He said the lack of credit in the market deeply hurt several sectors and many small companies were forced to shut shop, which resulted in India’s employment falling to its lowest level in 45 years.

Pending GST Compensation

Dr Amit Mitra also slammed Centre for delaying GST compensation payments. West Bengal finance minister Amit Mitra earlier said Rs 1,500 GST compensation has not been paid by the Centre.

“We are not getting paid the compensation for the last 3 months by Centre. Rs 8-9 thousand crore has not been paid to 5 states including Kerala, Punjab, Rajasthan, Delhi, Bangla,” he said.

“It is a violation of constitutional provisions. What happened to the money, has that been stashed somewhere?” he asked.

“This is incorporative federalism and not cooperative federalism,” Dr Mitra added.

Courtesy: India Today