The Centre should bear the loss of revenue.
Hyderabad: Chief Minister Revanth Reddy said that the state's revenue will decrease by up to Rs 7,000 crore annually due to the decision taken by the central government in the name of GST reforms. He said that the responsibility to adjust this lies with the center. He reminded that if 14 percent of the revenue is not received in the first five years when GST was introduced, then the central government has taken the responsibility of reducing that gap. "The center should compensate for the revenue that will decrease in the next five years with GST reforms through Viability Gap Funding (VGF)," Revanth said.
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