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Centre mulls over GST compensation plans: no clear signals yet

The Centre has proposed two mechanisms to meet the GST compensation shortfall, one of which is through a Rs 97,000 crore central bank window.

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The Centre has proposed two mechanisms to meet the GST compensation shortfall, one of which is through a Rs 97,000 crore central bank window. The second option is that states borrow Rs 2.35 lakh crore — the total estimated GST revenue loss due to the Covid-induced slowdown and the GST transition — from markets, facilitated by the Centre and the RBI.

The Centre is yet to circulate a formal proposal on the borrowing plan to the states that was presented to them at Thursday’s GST Council meeting. Individual states may face the issue of higher interest rates than the Centre if they go to market.

GST Council meeting

Any monetisation by the RBI reverses an important reform and would set a precedent. The government has held preliminary discussions with the RBI on the options offered to states. Experts say the central bank would not want the special window. They opine that RBI is likely to prefer that the Centre borrows and gives money to states. This special mechanism would essentially mean private placement of debt with RBI. It would prefer Centre borrowing from the market and giving to states and recovering that later from compensation cess.

Read Also: Unlock 4.0: Metro may resume and Schools to remain shut.

States individually will not have the option to pick one of the two GST compensation options offered by the Centre. They will have to collectively pick one or the other option that will be binding on all. The issue will be taken up at the next GST Council meeting. States have been given seven working days to give their views on the proposals. Repayment for these borrowings will be made via the cess fund after five years. Both the mechanisms cannot run simultaneously as it would create complications in maintaining them separately for so many states. Finance minister Nirmala Sitharaman had said on Thursday that if a state goes for the special window option, it will borrow less and its compensation entitlement will be protected.

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JMM-RJD-Congress are supporters of Bangladesh infiltrators: PM Modi at Jharkhand rally

Narendra Modi further claimed that if the bad policies of JMM, Congress and RJD continue, the adivasi society in Jharkhand will shrink

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JMM-RJD-Congress are supporters of Bangladesh infiltrators: PM Modi at Jharkhand rally

Ahead of the Jharkhand Assembly election, PM Narendra Modi launched a scathing attack on the incumbent Hemant Soren government, accusing it to put appeasement at the top of its agenda.

While addressing a rally in Jharkhand’s Garhwa, the Prime Minister said the coalition government of Jharkhand Mukti Morcha, Congress and RJD are supporters of Bangladesh infiltrators. He said that the JMM-RJD-Congress government has taken appeasement to its peak, and that these parties are destroying the state’s social harmony. He alleged that the parties are supporters of infiltrators, and to get votes of Bangladesh infiltrators, they are getting them settled across Jharkhand.

The Prime Minister stated that when schools disallow Saraswati Vandana, one can imagine how big the danger is. When there is stone-pelting during festivals, Maa Durga is stopped and curfew is imposed, one knows how dangerous it is, he continued. The Prime Minister also added that when the issue of infiltration goes to court and the administration denies, it becomes clear that the government machinery has been infiltrated. PM Modi was referring to allegations that a Muslim teacher stopped prayers to Goddess Saraswati at a school in Jharkhand’s Giridih.

Narendra Modi further claimed that if the bad policies of JMM, Congress and RJD continue, the adivasi society in Jharkhand will shrink, and advised people to use their vote to uproot this infiltrator coalition. He maintained that Jharkhand’s swift development is possible only if it has a government that expedites the implementation of central schemes.

Referring to the JMM’s decision to replace Champai Soren as Chief Minister after Hemant Soren was granted bail in a money laundering case, PM Modi said that the party has left no stones unturned in humiliating an adivasi son. He asked how the party will take care of the people of the state when nothing matters to them more than family. He added that he does not have a family, and the people are his family. He also mentioned that Champai Soren, once a trusted lieutenant of Hemant Soren, is now with the BJP.

Slamming the ruling coalition of corruption, he said that corruption hollows out the country like termites, and destroys the poor, Dalits, people from backward classes and tribals. He claimed that Jharkhand has seen for five years the corruption of the JMM-Congress-RJD government.

He also referred to the massive cash haul from the home of Congress’s former Rajya Sabha MP Dhiraj Sahu last year. Mentioning that mountains of cash are recovered from the home of Congress’s Rajya Sabha MP, he questioned if this money didn’t belong to Jharkhand.

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Ruckus in Jammu and Kashmir Assembly over resolution against Article 370 abrogation

Chief Minister Omar Abdullah addressing the session, said that the resolution has no importance and it is only for the cameras.

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Ruckus in Jammu and Kashmir Assembly over resolution against Article 370 abrogation

Jammu and Kashmir Assembly on Monday witnessed chaos after People’s Democratic Party (PDP) MLA Waheed Para moved a resolution opposing the abrogation of Article 370 and called for restoring the union territory’s special status.

Waheed Para, the PDP MLA from the Pulwama Assembly seat, submitted the resolution to newly elected Speaker, Abdul Rahim Rather and requested for a discussion on the matter during the five-day session, despite not being a part of the agenda.

It was submitted that although the agenda of the House has been finalised, they believe that the authority as the Speaker allows the inclusion of the resolution, as it reflects the sentiment of the people at large. After the resolution was submitted, all 28 Jammu and Kashmir BJP MLAs stood up to oppose the move, leading to noisy scenes inside the Assembly.

As the members protested, BJP MLA Sham Lal Sharma demanded Para’s suspension for bringing the resolution in violation of Assembly rules. The agitation continued even after the Speaker repeatedly requested the protesting members to take their seats. He asserted the resolution has not come to him yet and when it does, he would examine it.

While the BJP members refused to call off their protest, National Conference MLAs slammed them for interrupting the proceedings of the House. Chief Minister Omar Abdullah addressing the session, said that the resolution has no importance and it is only for the cameras.

The Chief Minister added that how the House will reflect and discuss this matter will not be decided by any one member. If there was a purpose behind the resolution, then they would have discussed this with the government before, he continued.

Nonetheless, CM Abdullah also admitted that the people of Jammu and Kashmir do not approve of the decision taken on August 5, 2019, when Article 370 was abrogated. Lieutenant Governor Manoj Sinha also said that his government will make all efforts for the restoration of full statehood. He mentioned that restoration of full statehood would be a reciprocation of the faith reposed by the people of Jammu and Kashmir in democratic institutions.

Meanwhile, PDP chief Mehbooba Mufti expressed that she was proud of Waheed Para for submitting the resolution.

Notably, Article 370 was a provision in the Constitution that granted special autonomy to the region of Jammu and Kashmir. It also allowed the state to have its own constitution, flag, and autonomy over internal matters except defense, communications, and foreign affairs.

However, the Centre on August 5, 2019 revoked Article 370, effectively removing the special status of Jammu and Kashmir and reorganising it into two Union Territories namely, Jammu and Kashmir, and Ladakh.

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20 killed after bus falls into gorge near Uttarakhand’s Pauri-Almora border, CM Dhami expresses grief

Chief Minister Pushkar Singh Dhami has announced financial assistance of Rs 4 lakh each for the families of the deceased and Rs 1 lakh each for the injured.

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20 killed after bus falls into gorge near Uttarakhand’s Pauri-Almora border, CM Dhami expresses grief

In a tragic incident, nearly 20 people were killed after a Garwal Motors Users bus fell into a 200-metre deep gorge near Uttarakhand’s Kupi in Ramnagar at Pauri-Almora border on Monday. The injured are being hurried to the hospital and a search operation is currently underway. At least 35 people were inside the bus when the accident occured.

The fatal accident was reported to authorities at around 9 am by passengers who had fallen from the bus during the accident. Police and teams from National Disaster Response Force (NDRF) and the State Disaster Response Force (SDRF) are at the accident site in Marchula’s Salt area. 

Speaking to the media, District Magistrate Alok Kumar Pandey said that the bus was going from Garhwal to Kumaon where the accident took place at Marchula in Almora. Sanjay Kumar, Salt Sub-District Magistrate stated that some of the passengers have been rescued and admitted to hospital. 

Meanwhile, Uttarakhand Chief Minister Pushkar Singh Dhami has announced financial assistance of Rs 4 lakh each for the families of the deceased and Rs 1 lakh each for the injured. The Chief Minister also directed the Commissioner of the Kumaon division to carry out a magisterial inquiry into the incident. 

Taking to social media platform X, CM Pushkar Singh Dhami expressed grief, and said that a very sad news has been received about the casualties of passengers in the unfortunate bus accident that took place in Marchula of Almora district. He added that the district administration has been instructed to carry out relief and rescue operations swiftly. 

Furthermore, CM Dhami stated that the local administration and SDRF teams at the accident site are working rapidly to evacuate the injured and take them to the nearest health centre for treatment. He mentioned that instruction have also been given to airlift seriously injured passengers if required. 

In a tweet, the Prime Minister’s office also announced an ex-gratia of Rs 2 lakh from PMNRF for the next of kin of each deceased in the mishap in Almora, adding that the injured would be given Rs 50,000.

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