Skip to main content

GST jettisoned govt considers special session


An online petition, signed by over 15,000 people, including some of the top industrialists of India, that had appealed to the Congress- led Opposition to end the disruptions in the Rajya Sabha to pass the Goods and Services Tax ( GST) Constitutional Amendment Bill led to more protests in the Upper House on Wednesday and effectively jettisoned, in what was the penultimate day of the session, any hope of the ongoing monsoon session of Parliament passing the all- important Bill. The events also put a question mark on the planned rollout of the GST regime by the appointed date of April 1, 2016.
According to a government strategist, the Cabinet Committee on Political Affairs could meet on Thursday to take a decision not to prorogue the House. This could enable the government to extend the current session after a break. The government might even call a special session, sources said. But any such decision will need to have the Opposition, particularly the Congress, on board and will need to factor in the Bihar state polls as well as the festival of Rakshabandhan due on August 29.
Another government strategist expressed the hope that the deadline could still be met if the winter session of Parliament could be advanced and at least half the states ratify the GST Bill soon after it is passed by Parliament, enabling the two Houses to take up other GSTrelated Bills in the Budget session. Either of these scenarios could work only if the government manages to reach out to a Congress leadership livid after the personal attacks on it by External Affairs Minister Sushma Swaraj and Finance Minister Arun Jaitley.
In the Rajya Sabha, the Opposition not only stuck to its stand that the Prime Minister should face the House on issues of Vyapam and Lalit Modi but also objected to the online signature campaign
Parliament to function: Urge all political parties to have a collaborative and consultative
process in Parliament. The petition has been signed, among others, by Confederation of Indian Industry ( CII) president Sumit Mazumder, Infosys co- founder Kris Gopalakrishnan, Bajaj Auto chairman Rahul Bajaj, Bioconā€™s Kiran MazumdarShaw, Hero MotoCorp chief Pawan Munjal, GVKā€™s GV Sanjaya Reddy, GE India head Banmali Agrawala, Adi Godrej, Ajay S Shriram, Atul Punj and Vikram Kirloskar.
Janata Dal ( United) chief Sharad Yadav and Left parties attacked the government for ā€œ usingā€ media and businessmen to hit out at the Opposition for disrupting Parliament. Yadav said the petition vindicated the charge that the BJP government was ā€œ a government for the moneybagsā€ and it was an attack on Parliament by the ā€œ capitalistsā€.
LIKELY OPTIONS BEFORE GOVT
  • Not prorogue the House, extend session after a break
  • Call special session |Advance winter session by a fortnight
  • Once both Houses pass the Bill, ensure half the states ratify it
  • Take up other GST- related Bills in the Budget session
Business Standard, New Delhi, 13th August 2015

Comments

Popular posts from this blog

GST collection for November rises by 8.5% to Rs.1.82 trillion

  New Delhi: Driven by festive demand, the Goods and Services Tax (GST) collections for the Union and state governments climbed to Rs.1.82 trillion in November, marking an 8.5% year-on-year growth, according to official data released on Sunday. Sequentially, however, the latest collection figures are lower than the Rs.1.87 trillion reported in October, which was the second highest reported so far since the new indirect tax regime was introduced in 2017. The highest-ever GST collection of Rs.2.1 trillion was reported in April. The consumption tax figures highlight the positive impact of the recent festive season on goods purchases, providing a much-needed boost the industry had been anticipating. The uptick in GST collections driven by festive demand had been anticipated by policymakers, who remain optimistic about sustained growth in rural consumption and an improvement in urban demand. The Ministry of Finance, in its latest monthly economic review released last week, stated that I...

Budget: Startup sector gets new Fund of Funds, FM to allocate Rs 10K cr

  The Indian startup sector received a boost with Finance Minister Nirmala Sitharaman announcing the establishment of a new fund of funds (FoF) in the Budget 2025. The minister unveiled a fresh FoF with an expanded scope, allocating Rs 10,000 crore. The initial fund of funds announced by the government with an investment of Rs 10,000 crore successfully catalysed commitments worth Rs 91,000 crore, the minister said.   ā€œThe renewal of the Rs 10,000 crore commitment to the Fund of Funds for alternative investment funds (AIFs) is a significant step forward for the Indian startup and investment ecosystem. The initial Rs 10,000 crore commitment catalysed Rs 91,000 crore in investments, and I fully expect this fresh infusion to attract an additional Rs 1 lakh to Rs 1.5 lakh crore in capital,ā€ said Anirudh Damani, managing partner, Artha Venture Funds.   Damani further added that this initiative will provide much-needed growth capital to early-stage startups, further strengthenin...