The central government is expected to face a revenue shortfall of Rs 10,664 crore in Integrated Goods and Services Tax (IGST) receipts due to the recent GST rate rationalization, according to an analysis report by the Global Trade Research Initiative (GTRI).
The revenue loss of the central government due to the recent GST rate reduction will be around Rs 3,700 crore in FY26, as higher growth and a boost in consumption have reduced the impact on revenues, according to a report by the State Bank of India (SBI).
"Nearly 1400 villages and about 3 lakh people have been affected in state... I would also request the central government to help Punjab as much as possible in this time of grief," he said.
Amid heavy rains, Jammu and Kashmir Chief Minister Omar Abdullah, on Thursday, during his visit to the flood-affected areas in Srinagar, stated that while there has been no loss of life, property had suffered severe damage.
In a press communique issued here, the Finance Minister Harpal Singh Cheema emphasised that Punjab, had consistently contributed to the nation's food security and economic strength and deserved timely and adequate assistance in its hour of need.
Congress leader and AICC Media & Publicity Chairman Pawan Khera on Thursday launched a scathing attack on the Modi government and Union Minister Nitin Gadkari over its ethanol blending policy, by saying that "a Government which won by Vote Milawat, is now running the country on Milawat!"
Parameshwara said the central government has finally understood the concerns raised by his party, which had long been demanding a cut in Goods and Services Tax (GST), introduced on July 1, 2017.
Madhya Pradesh Chief Minister Mohan Yadav on Thursday praised the Prime Minister Narendra Modi-led central government over GST reforms, saying it would benefit the poor and the middle-class people the most.
The central government's decision to reduce the Goods and Services Tax (GST) on cement and steel has been hailed as a game-changing move by leaders from the real estate industry.
Uttarakhand Chief Minister Pushkar Singh Dhami welcomed the Centre's new generation GST, calling it a "historic decision" that will benefit everyone, reducing it to two slabs of 5% and 18% and applicable from September 22, 2025. ji, the Central Government's commitment is to implement a new
Officials suggest that the team will assess the damage and prepare a report based on their inspection, which will be followed by further assistance from the central government.