Goods and Services Tax – GST – Dated:- 6-9-2018 – Schemes which may look like populist may in fact be popular as well and the scheme which may have commenced as a populist scheme has over a period of time may have generated multiplier effect said N. K. Singh, the Chairman of the visiting Finance Commission at a press conference in Chennai today. On what constitutes populist or not, commission is hearing different viewpoints, it will need to consider this in totality taking everything into account, he added. North versus South debate is misleading, he mentioned, as many states from other parts of the country are also expressing similar apprehensions as made by southern states like the issue of population date of 2011 etc. It will be the endeavour of commission not to penalise the states doing well on demographic front as well as economic front while carefully balancing the equity and efficiency. Acknowledging that there are issues with GST like rates and the compensation which may take
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tional average and poverty significantly below, noted the Chairman. There have been excellent record of fiscal management and debt management well within the limits, however, inter district disparities are a worrisome feature and need priority attention. Tamil Nadu has been traditionally welcoming the private and foreign investment which makes TN an imp engine of Indian growth. Commission also noted the policy imperatives by the state govt for enhancing Ease of Doing Business which has also helped in creating jobs. Other issues which were discussed during meeting to take growth momentum of TN further while reducing disparities 1. Floods management system 2. Improving productivity of agriculture 3. Imp flood erosion works and paucity of resources for management of water resources Commission has taken serious note of all the submissions made in the memorandum submitted and discussed and assured TN govt that to ensure that gains that tn has achieved is further strengthened so that tn cont
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urged the Commission to reverse this trend so that development efforts of the state do not stifle. State govt officials in their presentation gave some innovative suggestions on vertical and horizontal devolutions. They demanded to include the population control and contribution to central taxes as criteria. They also suggested using Environmental Performance Index which is a more holistic approach. They made some state specific suggestions related to Conservation of heritage buildings and Maintenance and strengthening of tourist circuits. State govt also highlighted the issues related to Centrally Sponsored Schemes. They urged that Debt to GSDP norms should be customized to the rate of interest and rate of growth and not fixed rigidly in a doctrinaire fashion. The Chief Minister submitted a detailed Memorandum to the Commission. The Chairman complemented the Govt. of Tamil Nadu for making an analytical presentation and stated that the issues raised would receive appropriate considerat
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