Finance Minister, Arun Jaitley says that the Prime Minister of India, Narendra Modi has majority votes to pass vital reform, Goods and Services Tax that was first proposed in 2006. Talking about the GST Bill, it is an indirect tax and one of the best and biggest economic reforms in India. The Bill could be applied from April 1, 2016 after it’s approval. The anti-persons of Narendra Modi have blocked the measure in the Rajya Sabha, Finance Minister told in an interview of Bloomberg TV India.
Mr. Arun Jaitely also said in an interview in Dubai, “The day it is discussed and put to vote in Rajya Sabha, I have not the least doubt that it will be approved, we have numbers on our side.”
When parliament will reorganize the conference next week, then will debate on the GST. The main agenda of the NDA government, is to allow GST to create a single market for more than a dozen state levies among 1.3 billion population of the country for the first time.
Jaitley said about the discomfiture of the coalition of NDA in Bihar state, this defeat wouldn’t impact on the GST Bill. Being a consuming state, Bihar will get benefits from the new tax.
“The Main opposition ell, Congress is playing hide and seek with us over the GST vote and our government’s position in the Rajya Sabha, where state legislatures appoints members”, FM Jaitley said.
Finance Minister further said, “It’s a transaction tax, which can get into operation as soon as the Constitution allows, once it’s put to vote I have all the supporting legislation drafts ready.”
The opposition Congress has stayed out from the modi’s economic agenda including GST Bill. The prime Minister made a decision to ban on the foreign direct investment in 15 industries as he demanded to tempt investors.
The deadline for the introduction of GST bill is April 1, 2016 and here needs of more than half state to roll out the Bill.
