THIRUVANANTHAPURAM: Finance Minister TM Thomas Isaac alleged the manifesto released by the Indian National Congress the other day is mere wordplay and is against the federal concept prevailing in the country.
Condemning the recommendation of implementing a new GST 2.0 regime based on a single, moderate, standard rate of tax on all goods and services, the minister said such a proposal will encroach upon the states’ fiscal autonomy.
“The Congress manifesto guarantees mega projects like NYAY that ensures Rs 72,000 annually to the poorest 20 per cent of the population.“But, it remains mum on how to find the money for the same. It seems the burden of running such projects will fall on the states,” said Thomas Isaac, at a presser on Wednesday.
While saying the proposal of introducing a single mode standard rate of tax is impractical, the minister said it will escalate the gap between the poor and the rich.