MK Faizy, National President of Social Democratic Party of India (SDPI) has expressed serious concern about the Comptroller and Audit General (CAG) finding of using the GST Compensation Cess Fund for other purposes. Dishonesty and falsity have become the hallmark of the Modi government, he said. “The GST Compensation Cess Act, 2017 provides for levy of cess for the purpose of providing compensation to the states for loss of revenue arising due to implementation of GST for a period specified in the Act,” is the statement of the CAG about syphoning a whopping sum of ₹47,272 crore for ‘other purposes’ by the central government, in blatant violation of this provision of the GST Compensation Act. The CAG finding has once again exposed the dishonesty and lack of integrity of the union government and its attitude towards the law of the land.The states are being denied their legal share of this fund. While keeping the diversion of such a huge sum for other purposes under cover, the central government had asked the states to borrow for meeting their shortfall in revenue. The Finance Minister had last week stated in the parliament that the states could not be compensated for revenue shortfall from the Consolidated Fund of India (CFI). This statement is contrary to the findings of the CAG, as the amount not remitted to the GST Compensation Cess Fund was diverted to CFI.According to the CAG, the diversion of fund had “led to an overstatement of revenue receipts and understatement of fiscal deficit for the year.” In other words, the government was deceiving the nation and the people by publishing false information about the financial status of the country. Ever since the Modi government assumed power at the centre, all the elements of a civilised nation including democracy have been undergoing devastation. A country that had been leaping to the forefront of economic growth has been forcefully pulled down to below zero growth by an incompetent team of rulers. Bills are passed in the absence of opposition members dismantling the very basic principle of democratic legislation. The recently enacted Farmer Bills are anti-farmer, and pro-corporate. The government is not serving the people; they are serving a selected few of the corporates. Wealth of the nation is being plundered to grow the ruling party and its allies. Finding of CAG that the funds were used for ‘other purposes’ is something grave. It implicates that the fund was misappropriated. BJP is toppling the democratically elected opposition led governments by purchasing MLAs for huge sums. It should be investigated as to whether the misappropriation of the GST cess was for this horse trading. Awakening of the people who love the country is the only solution to displace the anti-nationals at the centre, and the country will be saved only if the fascists are democratically ousted from power, said Faizy.
CAG Finding of Diversion of GST Compensation Cess Grievous – SDPI
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