Discontinuation of the GST compensation could adversely affect Delhi’s revenues, finance minister Kailash Gahlot

A day after presenting his maiden budget, Gahlot said in an interview with TOI that Delhi had taken a hit of nearly Rs 12,000 crore due to the GST measure. “If we don’t ramp up our revenue generation, it will be challenging to complete the big projects that we have announced. We will have to increase our GST collection as much as we can,” said Gahlot.

Gahlot said his government had expected the year-on-year growth of GST to be around 14% in 2022-23 over the previous year, but it stayed below 10%. Though the government is now exploring options on how to increase GST collections, the finance minister has urged the central government to continue providing compensation for the next five years until collections achieve the 14% annual growth rate.

Read more at : THE TIMES OF INDIA