Finance Minister Mr. Arun Jaitley said on debacle of the coalition of NDA in Bihar state that the defeat will not make any bad impact on the investors as they are very wise persons, they believe on our government. The financial improvements will continue.
He said continuous, “The poll impact won’t deter investor confidence and sentiment… I think investors are very wise people, they will see the performance of this government, they will judge us by our working style and we will provide good governance.”
Mr. Jaitley further added his words in his speech, “Many reforms are with executive decisions. Those will continue. Many legislative issues also get passed by Parliament. In some cases, there are delays, but those will be sorted out.”
Further, after a question was put up on the GST Bill of India, the Finance Minister told, GST is the first priority of our government and we are trying to get it passed in the Parliament on the given time. He also said, being a consuming state, Bihar would support the GST.
Jaitley said on GST, “Bihar and the JD(U) had supported this in the Lower House… If Nitish Kumar, as a responsible leader, has been elected on the plank of development, then certainly he wants more revenue for Bihar…, I will speak to the new government that they should support the Bill.”
The Indian government has gear up to apply the GST Bill from April 1, 2016 in the parliament. Whereas, the Bill is stuck in the Rajya Sabha, where NDA does not have a majority vote.
Talking about the GST Bill, it is an indirect tax that will make a single market for more than a dozen state levies. The Constitution Amendment Bill will combine several taxes such as excise, service tax, sales tax, octroi and regime tax.
