Telangana government Chief Minister A Revanth Reddy has demanded that the Union government compensate the likely loss of ₹7,000 crore due to the implementation of the rationalised Goods and Services Tax (GST) rate structure.
“The GST rate rationalisation will have an adverse impact on the state revenues. The Centre should come to the rescue of the States which bear the brunt of the new GST structure. We are demanding that the Centre address our concerns,” he said.
Meanwhile, the State government announced a bonus to the employees of Singareni Collieries. Of the total revenue of ₹6,394 crore in 2024-25, the government has decided to spend ₹4,034 crore on capital expenditure, while 34 per cent of the ₹2,360-crore profit (₹819 crore) has been set aside for giving a bonus to the employees.
Each of the 41,000 employees is expected to get an average bonus of ₹1.95 lakhs, ₹8.289 more than the bonus given last year. About 30,000 contact employees will get a bonus of ₹5,500 each.
“We will take up the issue of increasing participation in coal mines. The role of private partnerships posed a significant threat to the existence of the Singareni Collieries Company Limited,” he said.
He said he would ensure the company would get all the coal blocks in the State. He was responding to an appeal made by the employees who met him at the Secretariat today. They wanted the government to take measures to take back the mines allotted to private parties.
In a review meeting on the infrastructure projects, he wanted the officials to finalise a route map to lay a greenfield highway connecting Hyderabad with Machilipatnam port.
Source from: https://www.thehindubusinessline.com/news/telangana-cm-seeks-7000-cr-from-centre-for-gst-losses/article70081310.ece
