Welcome to the live coverage of the latest edition of The Hindu Mind series.
The guests for today are Telangana Deputy Chief Minister Bhatti Vikramarka Mallu and Kerala Finance Minister K.N. Balagopal, who will be speaking about the Goods and Services Tax (GST) and its implementation in the country.
They were two of the eight State Finance Ministers who had written to the GST Council — prior to its meeting on September 3 — asking it to compensate States for the revenue impact of the GST rate cuts the Centre had envisioned.
That compensation was to take the form of a cess on the items in the 40% slab. The GST Council, however, did not accept this proposal and so no additional cesses have been imposed.
The session also comes as various other engines of growth for the economy, such as exports and private investment, are facing significant headwinds.