Skip to main content

Have GST Nos in RS: Govt

By
Parliamentary Affairs Minister M Venkaiah Naidu underlined that despite opposition attempts to disrupt the Rajya Sabha functioning, legislative work in Parliament has seen a remarkable jump since the NDA came to power and claimed that the Narendra Modi government now has the numbers to get the Goods and Services Tax (GST) Bill passed.
In a press interaction to mark two years of NDA rule, Naidu said, “Finance Minister has over the last one year clarified the government's position on the Bill and the government has the numbers.“
NDA strength in the Rajya Sabha will increase only marginally by July this year but the dwindling numbers of the Congress has given the government hope of getting support of regional parties to get the GST Bill passed.
Finance Minister Arun Jaitley has categorically said that the government is likely to bring the GST Bill for discussion and passage in the Rajya Sabha in the monsoon session even if the Congress is still not on board. The minister expressed con cern over 44 pending Bills in the Rajya Sabhawhere the ruling NDA is in a minorityand said he would like to take up this issue with the Vice President and leaders of other parties to ensure more coordination in passing of legislation in both Houses. “From now on, any disruptions and delaying tactics will invite a price. I am sure all political parties will read the writing on the wall and enable effective functioning of both Houses of Parliament,“ he said.
Interestingly , he mentioned that there have been social media campaigns to demand effective functioning of Parliament. However, after frequent disruptions in the earlier sessions, Naidu said both Houses have now evolved a “new equilibrium“ under which while the opposition raises issues with all its might, legislative business also goes on.
“I hope this balance will continue to stay in the days ahead,“ he said.
In the last two years, 101 Bills were introduced in both Houses (96 in Lok Sabha and five in the Rajya Sabha). But while Lok Sabha has averaged passing of 48 Bills per year in the last two yearsfrom the earlier figures of three per year for the last ten yearsRajya Sabha cleared an average of 41 Bills per year in this time, which is a decline of 4 Bills per year.
The Economic Times New Delhi, 25th May 2016

Comments

Post a Comment

Popular posts from this blog

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

By
  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.   “The 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,” 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...
Post a Comment
Read more

After RBI rate cut, check latest home loan interest rates of top banks for loans above Rs 75 lakh

By
  The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points from 6.50% to 6.25% in its monetary policy review as announced on February 7, 2025. After the RBI repo rate cut, banks such as SBI, Canara Bank, PNB, and Union Bank among others have cut their repo linked lending rates. Most other banks are also expected to cut their lending rates in line with the RBI rate cut. After banks cut their lending rates, their home loan borrowers will have to pay less interest. Normally, when a lender cuts the lending rate, borrowers get two options: Either to go for a reduction in EMIs or reduce the tenure of the loan. The second option will help the borrowers clear their home loan outstanding faster. In case, the borrower goes for reduction in EMI then the lower lending rate of the lender would mean lower Equated Monthly Installment (EMI) for borrowers.   EMI is the amount you will pay on a specific date each month till the loan is repaid in full.A repo rate-linked home ...
1 comment
Read more

GST collections rise 9.9% to exceed Rs 1.96 trillion in March 2025

By
  Gross GST collection in March grew 9.9 per cent to over Rs 1.96 lakh crore, government data showed on Tuesday. GST revenue from domestic transactions rose 8.8 per cent to Rs 1.49 lakh crore, while revenue from imported goods was higher 13.56 per cent to Rs 46,919 crore. Total refunds during March rose 41 per cent to Rs 19,615 crore. After adjusting refunds, net GST revenue stood at over Rs 1.76 lakh crore in March 2025, a 7.3 per cent growth over the year-ago period.       - Business Standard 02 th March, 2025
Post a Comment
Read more