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No Consensus, Says Nirmala Sitharaman As 9 States Reject GST Solution

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4 years ago

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No Consensus, Says Nirmala Sitharaman As 9 States Reject GST Solution

There is still no consensus to break the deadlock between the central government and those of states and Uts over mode of payment of GST compensation, Union Finance Minister Nirmala Sitharaman said late Monday night after another GST Council meeting – the second in seven days and the third in a row to end with no agreement in sight.

By the end of Monday’s meeting 12 states had accepted the centre’s payment proposal – to borrow from the markets on their own account – but nine others stood their ground and insisted the centre do the borrowing.

Overall 21 states – mostly those ruled by the BJP or those that have supported it on various issues – have agreed to borrow. Ms Sitharaman has asked for time to consider the demands of the nine states who refused to do so after today’s meeting.

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GST (Goods and Services Tax) compensation has emerged as a sore point with state and union territory governments this year, particularly with the adverse economic impact of the Covid pandemic and lockdown.

The centre is finding it difficult to pay states compensation – due if a state’s revenue grows slower than 14 per cent – because states have not earned much this year due to months of lockdown necessitated by the COVID-19 crisis.

Last week Ms Sitharaman said that although no agreement had been reached the centre would release around Rs 20,000 crore in compensation for this year.

Earlier this year the Finance Minister, after a meeting of the GST Council, said an “act of God, an unforeseen factor”, had affected GST collections, and said a cash-strapped central government would struggle to pay states fully. Instead, she suggested, states could borrow from the markets.

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Several states, notably those ruled by opposition parties, initially refused this option. The number of states in this camp is, however, dwindling.Some of those that opposed borrowing and continue to do so – the list includes Kerala and Bengal – have written to Prime Minister Narendra Modi, to remind him of his government’s “constitutional” responsibilities.

They have also pointed out that borrowing as a method of repayment places an extra burden on their finances at an already difficult time. The centre, they have repeatedly said, could take up this burden and pay back the loan by carrying forward GST cess collection past 2022.

On Monday the Finance Minister said this would not be possible as it would lead to a rise in bond yields and result in increase in borrowing costs for the government and private sector.

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Also Read : MORE THAN 62 LAKH PATIENTS RECOVERED FROM COVID-19 IN INDIA; 55,342 NEW CASES IN 24 HOURS

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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22 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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