India, Aug. 22 -- letterschd@hindustantimes.com

Chandigarh : Agreeing to the proposed Goods and Services Tax (GST) rate cuts, the Bhagwant Mann-led Aam Aadmi Party (AAP) government on Thursday demanded that the Centre should release Rs.50,000 crore to Punjab to compensate the state for the loss it suffered due to the indirect tax regime.

After a meeting of the group of ministers (GoM) on the GST, Punjab finance minister Harpal Singh Cheema claimed that the GST inflicted a Rs.1.11-lakh crore loss on Punjab as the Centre released only Rs.60,000 crore so far. Over Rs.50,000 crore and Rs.8,000 crore Rural Development Fund (RDF) remain due, he said, adding the state would not have suffered such massive revenue losses had it not joined the "O...