New Delhi/Hyderabad, Aug. 21 -- Telangana Deputy Chief Minister and Finance Minister Bhatti Vikramarka on Thursday urged the GST Council to ensure that state revenues are not adversely affected by the proposed GST rate rationalisation.
Speaking at the Group of Ministers meeting on GST slabs and tax rates in Delhi, he recalled that states were promised a 14 per cent annual growth rate at the time of GST's rollout, with compensation provided for five years to bridge the gap.
However, he noted that state revenue growth remains at just 8-9 per cent, far below the target.
He cautioned that unchecked rate changes could push states into negative revenue growth, affecting welfare schemes and infrastructure projects.
Pointing out that southern s...