With government’s ‘Mid-year Economic Review’ report pegging India’s growth rate of 5.5% in ongoing fiscal, Union Finance Minister, Arun jaitley underscored that India could well achieve 6% growth next fiscal and required shared vision to achieve 9-10% economic growth.
He further underscored that his government was completely committed to the insurance reform and would not allow opposition from obstructing this. The minister is all set to present Insurance Amendment Bill for consideration and approval in Rajya Sabha.
Meanwhile, Finance minister introduced the long-pending GST Bill in the Lok Sabha to roll out the new regime from April 2016, which would subsume various levies like entry tax and Octroi.
Touted as the single biggest indirect taxation reform since independence and a 'win-win' for Centre and states, the 122nd Constitution Amendment Bill for Goods and Services Tax (GST) was tabled by Finance Minister Arun Jaitley after extensive discussions to get states on board by addressing their concerns.