Rajasthan Govt. Requests Center to Extend GST Compensation Timeline

The center is proposed by the Rajasthan government to prolong the duration of authorization of goods and services tax (GST) exemption to states for 5 years from 2022 to June 2027, concerning the weak fiscal situation of the states in the lockdown. The states urged a rise in the centers’ share about the sponsored policy furnished by the union.

Shanti Dhariwal Urban Development Minister shows the state before the budget meeting through the Union Finance Minister Nirmala Sitharaman. The states in India are facing an economic slowdown due to “lower than expected GST collections“, but the economic downfall is still in progress.

Mr. Dhariwal specified that the ratio of the union’s share in the sponsored policy of the center must raise to 75%. Also, he said that a reduction in the import duty on gold as well as silver jewelry and precious and semi-precious stones from 7.50% to 2.50%.

“No project in Rajasthan has been accorded the status of a national project. The State needs special central assistance and budgetary support for some of its major projects,” he added during proposing the national project status for the eastern Rajasthan Canal Project, which would concern the irrigation and drinking water demands of 13 districts.

Despite limited financial resources, the Minister said that the state government had made bigger efforts. In the fiscal year, 2021-22 there is an insufficient credit limit that is 3% for the states.

Mr. Dhariwal seeks the gazette declaration towards 50 roads in the state where it was notified of the national highways. All the railway projects which got permission in the past must be included inside the union budget.