NEW DELHI: Even the payment interval to countries ought to be extended for the next five years while the borrowing limitation has to be increased to 5 percent of GSDP (gross domestic product), with no requirements to allow them to continue vaccination and manage damages brought on by cyclones, West Bengal finance ministry Amit Mitra has advocated Union finance ministry Nirmala Sitharaman.
In an letter into Sitharaman, Mitra increased five factors including the requirement to revise projections of this gap to be financed through borrowings that based on the country’s calculation is projected at Rs 2.13 lakh crore rather than Rs 1.58 lakh crore as expected from the Centre.
“Further, since GST earnings haven’t stabilised yet and say financing are reeling under the various pressures of Covid-19 doubts and natural calamities, I would also recommend you to expand the payment period for the following five years past July 22,” Mitra said.
Mitra also stated that going from the actual revenue collections over Rs 63,000 crore is because of the nations for its 10-month span from April 2020 on January 2021.
He stated that West Bengal has a settlement of about Rs 4911 crore for financial year 2020-21.