AP to suffer losses Rs 4,700 crore with GST

yanamalaAndhra Pradesh state Finance Minister Y. Ramakrishnudu expressed concern over Goods and Services (GST) tax, which may bring huge loss to state exchequer.

He said, AP to suffer losses of more than Rs 4,700 crore each year with the implementation of GST. He said, the central government should compensate the state to the tune of Rs 23,500 crore for five years.

Even Yerram Naidu’s Son , TSDP MP Ram Mohan Naidu demanded the same from center. He said, they are taken appointment of the Finance minister to reprise him over the loss.

However, TDP welcomed the passage of constitutional amendment bill in Rajya Sabha.