Amit Mitra Kolkata: Former West Bengal finance minister Amit Mitra on Sunday said the proposed hike of Goods and Service Tax (GST) on textile products from five to 12 per cent would lead to loss of 15 million jobs and closure of one lakh units.
Mitra, now Principal Chief Advisor to West Bengal Chief Minister Mamata Banerjee, urged Prime Minister Narendra Modi to call a GST Council meeting now and reverse the decision.
Mitra tweeted: " Modi government will commit another BLUNDER on January 1. By raising GST on Textiles, 5pc to 12pc, 15 Million jobs will be lost and 1 lakh units will Close. "
" Modi Ji, CALL a GST council meeting now and reverse decision before sword of Damocles falls on heads of millions of common people, " Mitra added.
Modi Govt will commit another BLUNDER on Jan 1st. By raising GST on Textiles,5% to 12%, 15 MILLION JOBS WILL BE LOST & 1 lakh units will CLOSE. Modi ji, CALL a GST COUNCIL MEETING NOW & REVERSE DECISION before SWORD OF DAMOCLES FALLS ON HEADS OF MILLIONS OF COMMON PEOPLE.
— Dr Amit Mitra (@DrAmitMitra) December 26, 2021
The new rate structure to be effective from Jan 1 would lead to the closure of around 1 lakh textile units and loss of 15 lakh jobs in the country, Mitra stated.
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