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GST will reduce prices in the long run and boost economic growth, Finance Minister Arun Jaitley said in the Lok Sabha on Wednesday.
“The GST Bill is not a dancing instrument which will go jumping from Standing Committee to Standing Committee,” Jaitley said.
“I don’t foresee any state losing revenue after the roll out of GST,” he said.
Cooperative federalism means strong states but does not mean a weak Centre, Jaitley said in the Lok Sabha.
Revenue-neutral GST rate of 27 per cent suggested by a panel is too high; actual figure is going to be much diluted, he said.
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