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

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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.

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.

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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.

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.

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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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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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