Скачать или смотреть To The Point With Preeti Choudhri: GST War Rages On; Floods Submerge Punjab, Gurugram Sinks

The 56th Goods and Services Tax (GST) Council meeting is underway, addressing proposed tax cuts intended as a festive season bonanza for the middle class. This initiative has sparked a conflict between the Centre and several states, with eight opposition-ruled states, including Punjab, West Bengal, and Tamil Nadu, demanding revenue protection and a clear compensation system to mitigate potential financial stress. The debate over GST rate rationalization highlights federal fault lines, as states express concerns about fiscal autonomy and potential revenue reduction, despite a State Bank of India research report suggesting long-term gains for states. This political clash coincides with two unfolding crises: Punjab is experiencing its worst floods in four decades, impacting over 3.5 lakh people and resulting in 37 deaths. Concurrently, Gurugram, the 'Millennium City,' faced severe waterlogging and gridlock on Monday, September 1st, following heavy rain, exposing a failed drainage system and the consequences of unplanned urbanization. The central discussion revolves around whether the Centre will guarantee states against substantial losses and protect them from fiscal shocks.
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