Arun jaitley discusses GST, other economic issues with state finance minister

Mumbai: Union finance minister Arun Jaitley on Sunday discussed issues related to the Goods and Services Tax (GST) and other economic matters with Maharashtra finance minister Sudhir Mungantiwar. Mr Mungantiwar requested Mr Jaitley to consider reducing the high interest rate at which the Centre sanctioned loans to the state.

Mr Jaitley on Sunday discussed issues related to GST and other economic matters with representatives of industries and bankers. The representatives of different sectors including shipping and ports, gems, jewellery and petroleum gave their representations on GST to Mr Jaitley.

After the meeting, Mr Mungantiwar told reporters, “Besides GST, issues related to onion exports, farmer suicides and development of agriculture sector in the state were discussed.”

He further stated that the Centre in the past had asked Mr Jaitley to consider reducing the high interest rate at which loans were sanctioned to the state.

“The interest rates were very high 10 years back when loans were given to the state by the Centre. We have made a request to review those rates and align them with the current levels,” Mr Mungantiwar added.

The state finance minister said Mr Jaitley gave an assurance that the Centre would look into all issues concerning the state and address them.

Mr Jaitley last week said he was hopeful of the GST rollout from July 1. He had claimed the new government would create one of the world’s biggest single markets, make commodities cheaper and tax evasion difficult in the country.