Jharkhand Finance Minister cautions on limited benefits of new GST for state
THE JHARKHAND STORY NETWORK Daltonganj, September 26: The new GST regime has not yet got public acceptability as buyers and consumers…
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THE JHARKHAND STORY NETWORK
Daltonganj, September 26: The new GST regime has not yet got public acceptability as buyers and consumers are still not very much aware of the slash down of the tax slabs.
Daily users are still buying double bread or curd at the same old price, little knowing that since September 23, there is a new GST regime effective.
Car buyers are far more conscious of the price. As Diwali is just weeks ahead, buyers of cars, bikes and home appliances are pretty joyed of having a lesser burden on their pockets in the wake of the new tax slab of the GST.
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State Revenue Concerns
The state finance minister Radha Krishna Kishore is not overly buoyed with new tax rates for GST (Goods & Services Tax). He is quite pensive and thoughtful.
Speaking to this correspondent, Kishore said, “I, as a finance minister of Jharkhand, first of all want central fiscal assistance arising from the new tax slabs which may deprive our state to the tune of approximately rupees 2000 crore annually.”
“It’s not the question of hailing the new tax rates or assailing them. The moot point is how states like Jharkhand will meet the shortage of their revenue,” said the finance minister.
Impact on the Poor
Asked if the new GST system will help the poor, the daily wagers to which Kishore said, “Our people love eating saag. Do they know what groceries mean? All that they know is noon tel bhaat (salt edible oil boiled rice)”
It is claimed that groceries will be cheaper by 13 per cent now.
Kishore further said, “Prices for dry fruits will scale down, but go to any village where people go for the inner pulp of the jackfruit called kathal. For such people new GST system is just a new word.”
The minister Kishore was giving his reaction to the much hyped benefits flowing now from the new GST slabs.
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Political Context and Criticism
Again reminded that his Congress party leader Rahul Gandhi was highly critical of the GST right through its inception, terming it sarcastically as Gabbar Singh Tax, to which Kishore said, “The new slabs brought in only on September 23 have vindicated the stand of our leader Rahul Gandhi. It took 7 years of the BJP-led government in the centre to realise that higher tax slabs have ruined the commoners and their economy. It’s a precious ruin of the economy of the nation and the states, and there is hardly any room for celebrations like Bachat Utsav (Savings celebration).”
