“Five factors play crucial role in economic growth-man, machine, material, money and minute (time). Otherwise, this imbalanced development will stop country from scaling new heights”, he added hinting at states like Bihar, West Bengal and Orissa.
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Later, while intervening, Modi said his experience as chief minister had helped him understand better the concerns of states. Food and medicines have been kept out of the ambit of GST.
Our aim is “Economical and educational empowerment of the poor”. “GST can be the platform to create such an atmosphere”, he said.
The government is also expected to table a proposal in the assembly to do away with luxury tax on hotel rooms having rent up to Rs 1,500.
“It is true that consumer States will benefit more from GST but Centre will compensate manufacturing States in case of losses”, PM Modi stated.
“One is a Lok Sabha MP and other is from Rajya Sabha”.
Modi hailed the passage of the bill as a “great step by team India, (a) great step towards transformation, great steps towards transparency”. Again, borrowing from Chidambaram’s speech in Rajya Sabha, Modi said that his government did not want to pass the bill the basis of numbers alone.
After a six-hour debate, the Lower House passed the Bill with all 443 members present voting in favour after AIADMK members staged a walkout in protest. “We support it. Those who are passing the GST now, why were opposing it, when they were in the opposition”, asked Kharge.
Reiterating its demand that the GST should be capped at 18 percent so that it doesn’t become “inflationary”, the Congress on Monday said that the NDA government should have done some “homework” before getting it passed.
“In the entire discussion on the GST, none of us used it as a platform for politics”.
In the meantime, the Congress has also issued a similar whip.
BJD’s Thatagata Satpathy resented that the states would lose right to levy taxes.
#GSTBill will act as catalyst to help strengthen trust between Centre and States.
The historic Constitution Amendment Bill that will pave the way for a Goods and Service Tax (GST) in the country received Parliament’s approval when the Lok Sabha today unanimously passed it in what is seen as one of the most significant tax reform measures ever in India.
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It was also discussed during the prime minister’s meetings with US President Barack Obama, including when they met at the White House in Washington on June 8 this year. Even when the Congress left (was voted out of power at the Centre) in 2014, nowhere was the cap suggestion made.
