Sydney, December 5, 2019 (Yes Punjab News)
The Convenor of NRI World Organization (NRIWO) Dr. Amarjit Tanda has stated at Rosehill Sydney NSW talking to the press that the state is likely to get its arrears amounting to Rs 2,000 crore by December 18 out of the total Goods and Services Tax (GST) dues of Rs 4,100 crore from the Centre.
Dr Tanda said that the government must focus on additional resource mobilisation. “The government must bring transparency in mining auction, reforms in excise collection avoiding leakages, reducing subsidies, stopping free water and electricity, quarterly rates on properties, bribery in offices and checks on agents and inspectors system.
Also, there is a need to bring reforms in transport sector as private operators are multiplying fleets, while government buses are losing revenue,” Dr Tanda added
Dr Tanda said that the case along with finance ministers and representatives of other states to Union Finance Minister Nirmala Sitharaman regarding early release of GST compensation and arrears has been discussed.
Dr Tanda said that the Punjab is awaiting Rs 2,100 crore as compensation while arrears stand at Rs 2,000 crore for August and September period.
“We are facing issues due to delay in compensation. If we can’t close jails, schools and hospitals or cut spending on social security we can cut on lots of unnecessary expenses on security helicopters cars petrol perks etc.,” Dr Tanda said.
“Including arrears, the total compensation the Centre owes to the state around Rs 6,000 crore be cleared soon,” Dr Tanda said.
The state’s total revenue receipt during April-October was Rs 34,900 crore, which was 5 per cent higher than the last year and 18 per cent lower than the budget estimates. As far total revenue expenditure was concerned, it was Rs 41,000 crore during the period. As the state cash flow was disrupted due to delay in compensation by the Centre, its expenditure was around 2 per higher than the last year.
“Besides early release of GST compensation, the state will have to mobilise additional resources to curtail deficit. A big change in the mindset of the government is also required,” Dr Tanda said.
