Opposing the idea of bringing fuel products under the Goods and Services Tax (GST), three Chief Ministers from different political parties on Saturday said it would have a negative impact on their revenue collection.
Speaking at the Hindustan Time Leadership Summit 2018, Amarinder Singh, Chief Minister of the Congress-ruled Punjab, said his state’s economy was not in a good shape and it had become dependent on the Centre after the implementation of the GST last year.
“We do not have money to run the state. After the GST, we have nothing left in the state. We are dependent on the Centre. We do not have industry. We have hostile neighbour who keeps us on our toes. We have only agriculture to go on,” Singh said in a discussion, which was attended by his counterparts from Maharashtra and Karnataka.
“We have only three sources of revenue. One is fuel, one is excise and one is stamp duty on transfer of properties… As far as the real estate is concerned, Punjab has not moved ahead as yet because economy is not in good shape. Where do I get my revenue from?” Read More
Latest posts by outlookindia (see all)
- OPEC looks to cut oil production to support falling price - December 6, 2018
- Crude oil futures slide 1.79% on cautious cues, all eyes on OPEC meet - December 6, 2018
- Railways struggle to extend lines in mountainous Northeast - December 5, 2018