Work underway to implement goods and sales tax from April: Pranab Mukherjee

Posted By: Staff
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New Delhi, Oct 28 (ANI): Finance Minister Pranab Mukherjee on Wednesday said that central and state government officials are working on implementing a goods and services tax from the planned deadline of April 2010.

Speaking to reporters on the sideline of the meeting of the state finance secretaries and commissioners here Mukherjee said: "We are trying. There has been progress. I had some discussion on a particular issue with the state finance ministers. I will have another round, discuss again in November," said Mukherjee.

He also hinted at the borrowing limit for state governments, which was unlikely to be raised beyond the current four percent of their gross domestic product for the current financial year.

"It has already been decided," he said when asked if the government was considering raising states' borrowing limits.

"That various issues of development will be discussed. We have already provided 0.4 per cent earlier it was there in one of the stimulus packages three per cent plus half a per cent. That has already been decided," he added. (ANI)

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