Digambar Kamat (File photo)
PANAJI: Insisting that the Centre must shoulder the load of further borrowing to compensate countries for shortfall in GST earnings , resistance leader and former chief minister Digambar Kamat on Thursday demanded that chief minister Pramod Sawant“outrightly refuse” the 2 choices given by finance ministry Nirmala Sitharaman for bridging the gap GST collections.
The Centre owes Goa Rs ,018 crore as compensation for its shortfall in GST collections since March.
In a particular GST council meeting, which was attended by panchayats Union Mauvin Godinho, the Centre provided states the option of borrowing and obtaining the reimbursement borrowing or later now and repaying the loans utilizing cess accumulated after 2022, when settlement ceases. The decision will be taken on September 8 from the GST council.
Kamat stated that according to legislation, it’s the legal and ethical duty of the Centre to compensate all countries for GST revenue shortfall.
“An already bankrupt Goa won’t be in a position to accept the burden of attention on fresh borrowings for the Centre’s fault,” Kamat explained.
Goa’s GST collections have dropped significantly because of this Covid-19 pandemic using a 34percent fall in collections found in August annually on year basis.
Kamat has blamed the BJP government’s policies to the tragedy that the market is in and stated that without a financial revival strategy in sight, tough times are ahead. “The Central government has failed in direction of this Covid pandemic in addition to the nation’s market,” Kamat explained.