Finance Minister Pradip Amat on Friday urged the Centre to reduce Central Sales Tax (CST) rate from current four per cent to two per cent and thus provide adequate compensation to the States.
Amat made this demand at the Pre-Budget Consultation meeting held under chairmanship of Union Finance Minister Arun Jaitley in New Delhi on Friday.Besides, Amant also demanded for removal of the ceiling on Profession Tax, taxing goods sold through e-commerce platform at the consumption point, suitable modification in GST, compensation for the State’s revenue sacrifice for the Paradip Refinery, adequate provision in the Central Plan Assistance (CPA) in 2015-16 for projects like AIBP and PMGSY, financial support for Nabakalebara 2015 and release of funds from NDRF for restoration work in the Cyclone Phailin and Hudhud-affected areas.
He further demanded for implementation of the National Waterway-5 to link Paradip and Dhamra ports, opening of brick and mortar bank branches in all unbanked gram panchayats by 2019, concessional loan from commercial banks to fishermen, dairy farmers and weavers at par with agricultural activities and reduction of the premium for crop insurance. Additional Chief Secretary Finance R Balakrishnan was present at the meeting.