Telangana Deputy Chief Minister Bhatti Vikramarka Mallu and Kerala Finance Minister K.N. Balagopal will be discussing State finances amid GST reforms.
Telangana Deputy Chief Minister Bhatti Vikramarka Mallu and Kerala Finance Minister K.N. Balagopal will join as the guests on the next edition of The Hindu Mind series, on September 25, in New Delhi.
The Hindu Mind is a regular series of in-person interactions with key policymakers to discuss the political, economic, and social issues of the day in a free-wheeling yet insightful conversation. Mr. Mallu and Mr. Balagopal will be speaking about the Goods and Services Tax (GST) and its implementation in the country.
Notably, Mr. Mallu (who also holds the Finance portfolio for Telangana) and Mr. Balagopal were two of the eight State Finance Ministers who had written to the GST Council — prior to its meeting on September 3 — asking it to compensate States for the revenue impact of the GST rate cuts the Centre had envisioned.
That compensation was to take the form of a cess on the items in the 40% slab. The GST Council, however, did not accept this proposal and so no additional cesses have been imposed.
The conversation with the two State Ministers will take place against the backdrop of GST 2.0 having rolled out on September 22. While the Centre has estimated a revenue hit of ₹48,000 crore due to the GST rate rationalisations, West Bengal Chief Minister Mamata Banerjee has said that West Bengal alone will face a blow of ₹20,000 crore.
The Centre, however, has argued that the boost to consumption due to the lower GST would offset the impact of the rate cuts themselves. Opposition States aren’t as convinced, however, a fact both Ministers are expected to touch upon in their session.
The session also comes as various other engines of growth for the economy, such as exports and private investment, are facing significant headwinds.
Published – September 23, 2025 04:45 pm IST
