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Government reaching out to the Opposition for GST bill: Venkaiah Naidu

24 Nov 2015 Evaluate

Raising hopes for the passage of the much delayed Goods and Services Tax (GST) bill, the Parliamentary Affairs Minister Venkaiah Naidu, just ahead of the start of the winter session of Parliament, has said that the government is reaching out to the Opposition to bring it on board to ensure passage of the Constitution Amendment Bill for GST.

Terming GST as the 'need of the hour', Naidu said the 'GST should be passed in the Winter Session of Parliament. The minister added that “I am confident (about the passage of GST) as the Parliamentary Affairs Minister. I am already in touch with some of the Opposition parties. We are discussing with them and they have meaningful suggestions... They can also be taken into consideration while adopting the Bill in Parliament.”

It is being said that with the introduction of GST, India's GDP will rise by 1.5-2 per cent. Naidu said that we are seeing that the world market is slowing down, China is going a little negative and India is the most attractive place. Adding that it is a great opportunity for India, he said that we should take the initiative and make Indian economy more strong so that interest rates can come down and you can spend more on welfare and developmental activities.Earlier, Minister of State for Finance Jayant Sinha had also said the government was in continuous consultation with the opposition parties on the proposed GST.

The GST, which is to be implemented from April 1, 2016 after remaining pending for the last seven years, will subsume more than a dozen state levies to create a single market. The Bill has been passed in the Lok Sabha and is awaiting clearance from the Rajya Sabha where the ruling NDA lacks majority. Some opposition parties are demanding that the GST rate should be fixed at 18 per cent, while the Rajya Sabha Select Committee has suggested that the GST rate should not go beyond 20 per cent as higher rates could fuel inflation and erode the confidence of consumers.

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