• Trending India

Was demonetization an 'Act of God'? Bengal finance minister’s taunt at Sitharaman

By- Bhumika Bansal

Referring to Nirmala Sitharaman's 'Act of God' statement, Bengal finance minister Dr Amit Mitra also asked the Centre whether someone was playing God by implementing demonetisation.

Dr Amit Mitra, financial Minister in west Bengal on Sunday accused the central government try to destroy the economy of individual states.

"An Inevitable Incident was, vast bill is being given to the states. It will destroy their financial health and it is taking place strategically, “Mitra Claimed, criticize for the Centre's proposal of states to take money to resolve the issue of repayment shortfall under the current GST regime.

proposal shared by the Union Finance Ministry ( UFM) at the recent GST Council meeting was hostile by a majority of states, including some rules of BJP.

“States are stressed and have no money to pay employees salaries. Our exploratory funds will be replaced by borrowing which is not bearable, ” Bengal finance minister stated.”

In Addition to this, he Claimed, "There is a steady pattern to squash federalism in order to savage power of Government comes into effect."

Criticizing Union Finance Minister(UFM) Nirmala Sitharaman for her recent say, Mitra stated, " As In 2016, GDP was 8 percent before demonetization came into effect and in years 2019-20, just before Covid-19 scenario it came to 4.2 percent, almost 4 percent decline is Observed. Quarterly growth from January to March has seen a record fall of 3.1 per cent, the lowest seen in past 11 years. Permanent investment growth rate is negative. Was all this was an inevitable accident or was someone playing God?"

States had joined the GST (Goods and Services Tax) regime agreeing to give up 70 percent share of state taxes over particular assurance that, they will get repayed by the Centre.

3 views0 comments