Bengal records revenue growth of 23% in 2021-22 fiscal: Amit Mitra

Kolkata: Amit Mitra, the principal Chief Advisor on Finance to Chief Minister Mamata Banerjee, on Thursday was vocal about the release of Rs 27,000 crore of inter-state Goods and Services Tax (GST) to all states maintaining that Bengal has recorded a GST revenue growth of 23 per cent in 2021-22 and 19.23 per cent in the last two months —April and May 2022.

"Our state recorded a GST revenue growth of 23 per cent in 2021-22 that is much higher than the projected rate of 14 per cent. In the last two months namely April and May, our GST growth was around 20 per cent," Mitra said in a virtual press conference.

The former Finance minister attributed the good GST collection to the macro-economic policy which resulted in demand simulation and a host of measures towards Ease of Doing Business.

"The Centre has been sitting on Rs 54,000 crore as inter-state GST of which Rs 27,000 crore is meant for the states. The Centre should immediately release this amount to all the states," he added.

Mitra criticised BJP state president Sukanta Majumdar for providing misleading information about GST compensation. "He (Majumdar) may not be knowledgeable about GST since he is from the field of Botany but he should have known facts before speaking. He should approach the Centre as states are being deprived of the inter-state GST amount," he maintained. He urged the Centre to extend the GST compensation period to states, which is slated to end in July, for another five years.

Majumdar had earlier in a press conference said that the state government should give some relief to the people when the Centre has cleared all the GST dues.

Two days back, the Centre had claimed to have cleared the entire GST compensation payable up to May 31 by releasing Rs 86,912 crore to the states, as per the Finance Ministry. Among this, Rs 6,591 crore was released to Bengal.

The GST was introduced in the country on July 1, 2017, and states were assured of compensation for the loss of any revenue arising on account of the implementation of GST for five years.

"No one knew during that time that a pandemic like Covid will come and will have its effect for three years. So, the states should be compensated for revenue loss due to GST for another five years," he added.