“The next three days are crucial with very important pieces of legislation coming up before our parliament”, Jaitley said here addressing the annual general meeting of the Federation of Indian Chambers of Commerce and Industry (Ficci). And the only collateral reason I suspect is if I couldnt do it, then why should somebody else do it?.
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“At this point, I regret when Indian politics becomes a hurdle to India’s larger interests”, he added. “I think a delayed GST is better than a flawed GST”.
The government had planned to roll out GST from April 1, 2016. In contrast, the Rajya Sabha passed only Bill pertaining to negotiable instruments, while no new Bills were introduced.
The politically hot issue of the role of the Governor of Arunachal Pradesh, which was being raised by the Congress in both the Houses, may also be taken up for discussion in Rajya Sabha, apart from growing intolerance endangering the unity and diversity of the country and prices of essential commodities and foodgrains.
On the revision of India’s GDP for the current fiscal to 7-7.5% on Friday, from 8-8.5%, as forecast by finance ministry economists in February, Jaitley said India is growing at a much faster rate, while the global economy is growing at a “modest pace”. We can not allow that.
“Constitution prescribed tariffs actually can be an albatross around the neck of the future generation”.
“The vast amount of damage done by this fury also is beyond human capacity to defy them (challenges)”, he said, adding, “the immediate challenge is to provide relief, saving human lives and to provide basics for livelihood”.
Slamming Jaitley’s accusation, Chidambaram said, “The present GST Bill is flawed one and it need to be corrected before being passed in the Parliament”.
Referring to the Arbitration and Conciliation Bill, which will later go to the Rajya Sabha for approval, Jaitley said, “In terms of ease of doing business, India has to implement a prospect for its smooth functioning and a better place to visit internationally”.
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As for setting up of the commercial courts Bill, Mr Jaitley said it sought to expedite resolution of commercial disputes pending in courts for years and decades.
