The Finance Minister Arun Jaitley has said that the Centre and States need to work together to roll out Goods and Services Tax, GST. 

He said, the mandate of 2014 clearly spells out that economic growth cannot be compromised at any cost and there is a need to round off corners towards GST implementation. Mr Jaitley was addressing the pre-budget consultative meeting of State Finance Ministers in New Delhi yesterday. 

The Finance Minister said, implementation of GST has the potential to significantly improve the growth story. Finance Ministers of several States demanded that the Centre address issues pertaining to compensation on account of revenue loss following roll-out of GST, which is being touted as the most significant indirect tax reform.

Mr Jaitley also sought the States support in tackling temporary fluctuation in prices. He said the need for a Single Agriculture Market and real time information dissemination on prices to farmers and consumers are areas of concern which need to be addressed. 

Mr Jaitley said that his Ministry will set up special courts to stop hoarding and black marketing, besides reviewing the commodity laws.