Subramanian Swamy issues first response on FM Sitharaman's 'Act of God' statement

BJP MP Subramanian Swamy on Friday questioned Finance Minister Nirmala Sitharaman for her statement pertaining to COVID-19 and ensuing ecomic slump in country. Sitharaman on Thursday termed COVID-19 pandemic as 'Act of God'. Moreover, Finance Minister also stated that ecomy is heed for a contraction in current fiscal.

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Subramanian Swamy questions Sitharaman for 'Act of God' statement

senior BJP leer lashed out at Nirmala Sitharaman and said that he will post video of her statement soon. In dition, he also questioned wher decline in annual growth rate from 8 per cent in 2015 to 3.1 per cent in first quarter of 2020 before pandemic should be attributed as an act of god as well. 

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Meanwhile, opposition leers have also hit out at Finance Minister Nirmala Sitharaman for her statement. Shiv Sena leer and Rajya Sabha MP Priyanka Chaturvedi in her tweets questioned Sitharaman over ecomic situation before COVID-19 outbreak. She termed deteriorating ecomic situation as 'Act of Fraud'.

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COVID-19 An 'Act Of God': Nirmala Sitharaman

During  41st meeting of GST Council, Sitharaman in her briefing to media said that Centre will pay states compensation which strictly arises out of GST implementation. compensation expected by states has been estimated at Rs 3 lakh crore, of which Rs 65,000 crore would be funded from revenues garnered by levy of cess. In dition, Centre has also estimated that of this Rs 2.35 lakh crore, Rs 97,000 crore compensation requirement is due to GST rollout and remaining is on account of impact of COVID-19 on ecomy.

"This year we are facing an extraordinary situation that even below 10 per cent approximate estimation you are facing an 'Act of God' which might even result in a contraction of ecomy...," Sitharaman said.

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(With PTI Inputs)