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

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

By
  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...
Post a Comment
Read more

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