Finance Minister Arun Jaitley has once again pitched for the passage of land acquisition and GST bills in Parliament, amid threats from the opposition of disrupting the upcoming monsoon session of the parliament. Jaitley has said that policy reforms and 8-10 per cent economic growth are a must to eliminate poverty, citing the results of Socio Economic and Caste Census that 'growth and economic reforms help the poor as do targeted schemes'.
He said that the latest data suggest that the investment cycle is slowly turning around and stalled projects are being unblocked at a faster pace. Passing the GST and reforming the land law will accelerate this investment turnaround.
Finance Minister also said that that NDA government was trying to create conditions for accelerating growth to 8-10 percent through a set of measures.'...The government is creating the conditions for greater private investment: implementing the GST and creating a common market, reforming the land law, easing the costs of doing business, and unblocking stalled projects are all measures that will improve the conditions for investment.'
While the Goods and Services Tax Bill is being scrutinised by a select committee of the Rajya Sabha, the Land Acquisition bill is being discussed by the joint committee of Parliament. Both the committees are expected to submit their reports at the beginning of the next session.