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New Delhi:
Delhi Deputy Chief Minister Manish Sisodia on Thursday stated that beneath the prevailing system, the town authorities can’t take a mortgage from the RBI to satisfy its income shortfall.
Emerging out of a GST Council assembly, he stated the Centre has refused to pay GST compensation to the states and requested them to take a mortgage from the RBI to satisfy their income shortfall because of the coronavirus pandemic.
“However, under the current hybrid system (of governance), the Delhi government cannot take a loan from the RBI. The Centre should take a loan from the RBI and give it to the Delhi government,” he stated.
Mr Sisodia additionally charged the Centre with failing to fulfil its promise to the states on the launch of the Goods and Services Tax (GST) regime 4 years in the past.
“The Centre had promised that it will pay GST compensation to states at the rate of 14 percent for five years in case of revenue shortfall. But, today at the GST Council meeting, the Centre refused it, saying there was no provision for compensation in situations like a pandemic,” Mr Sisodia stated in a briefing.
The Delhi authorities is anticipated to have a income shortfall of round Rs 21,000 crore within the present monetary yr, Mr Sisodia stated.
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