Former Reserve Financial institution Governor Y V Reddy stated Wednesday that the Union authorities would achieve extra from GST than the states within the longer run.
Throughout an interplay with college students on the Indian Institute of Administration-Ahmedabad right here, Reddy additionally opined that “belief deficit” has elevated with regard to administration of the Items and Companies Tax.
Reddy, who has additionally served as chairman of the fourteenth finance fee, was right here to launch his guide “Indian Fiscal Federalism”, co-authored by G R Reddy.
“My sense in regards to the GST is that Centre will achieve greater than the states,” stated Reddy to a query by Gujarat Chief Secretary J N Singh, one of many invitees on the guide launch.
“The best way GST has been applied, it doesn’t command belief of the states….The belief deficit has elevated in regard to the administration of the GST,” stated Reddy.
On relevance and significance of the finance fee, Reddy stated the issue is exterior the fee.
“Everyone seems to be looking for issues in finance fee. However downside isn’t with the fee. Drawback is exterior the fee….enable the fee to do its work,” he stated.