Telangana Chief Minister A Revanth Reddy has urged the centre to compensate revenue loss with the new GST structure. He said Telangana state will be losing 7000 crore rupees revenue annually under the GST rate rationalization. Speaking at a programme in Hyderabad yesterday, he said the GST rate rationalization will have an adverse impact on the state revenues and the Centre should come to the rescue of the states which bear the brunt of the new GST structure.

 

 

He demanded the centre to address the concerns raised by the Telangana on losing revenues after the introduction of the GST rate rationalization. The state government announced Dasara festival bonus to employees and workers of the state owned Singareni Coal Collieries Limited. Out of 6394 crore rupees profits of the company, the Chief Minister said that over 4,000 crore rupees will be utilised for investments and 819 crore rupees has been given as a bonus this year.