"Flexi funds as part of this decision also exist to tailor the scheme implementation to meet the local requirements, he said. "
New Delhi, June 9 - Finance Minister Arun Jaitley Monday urged the state governments to support the Goods and Services Tax (GST) saying it can significantly improve economic growth.

During a meeting with state finance ministers, who hold the key to implementing the crucial tax reform, Jaitley said some vexatious issues remain that need to be addressed for implementation of the new tax regime.

Implementation of GST has the potential to significantly improve the growth story. Many of you would recall that a decision to implement GST was taken in 2007-08 and an empowered committee was formed for building consensus on this issue, Jaitley said during the meeting attended by finance ministers of all states and union territories.

I have been informed that on many issues convergence of views has happened and there are some vexatious issues which only need resolution. I wish and hope that these will be sorted out sooner than later, he said.

The finance minister said a consensus needed to be evolved for successful implementation of the GST.

With a view to grant greater autonomy to states, Jaitley said the funds for Centrally Sponsored Schemes would be routed through the state governments.

Flexi funds as part of this decision also exist to tailor the scheme implementation to meet the local requirements, he said.

I urge all of you to use this forum for making suggestions for improving implementation of various welfare programmes of the government, Jaitley added.


comments powered by Disqus
Read more on:
 

PERMALINK

http://www.nerve.in/news:2535002380164
You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.


STORY OPTIONS
  Email this story to a friend
  XML feed for India


 
COPYRIGHTS INFORMATION
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.
 

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.