Panaji: Clanging of thalis and lighting of diyas amid the Covid-19 pandemic while ignoring macro issues has destroyed the Indian economy, Goa Leader of Opposition Digambar Kamat said on Thursday while warning the state government against additional borrowing to make up for the GST compensation gap.
“The central government has completely failed in the management of the COVID pandemic as well as the economy of the country. Despite the warnings from our leader Rahul Gandhi of a tsunami hitting the nation if timely action is not initiated to boost the economy, the BJP Government preferred to continue with its ignorant approach and chose to celebrate with the banging of thalis and lighting of diyas, which has now resulted in crashing of economy,” Kamat said in a statement issued on Thursday.
He urged Chief Minister Pramod Sawant to reject the twin options given by the Union Finance Ministry to bridge the compensation gap — one of which includes giving the state government leeway to borrow additional finances — claiming the state treasury was nearly bankrupt.
“I want to warn the Chief Minister who also holds the finance portfolio to outrightly reject the twin options given by the central government to bridge the GST compensation gap. It is the legal and moral responsibility of the Centre to compensate the States for the GST revenue shortfall,” Kamat said.
“The financial burden of additional borrowing must be borne by the Centre. The already bankrupt Goa government will not be able to bear the burden of interest on new borrowings for the Centre’s fault,” Kamat added, while also urging Pramod Sawant to release a white paper on the finances of the state government.