Jayant Sinha, MoS Finance said that the government is committed to the GST rollout timeline, which is 1st April, 2016.
One of the key developments in focus today is the Cabinet's nod for the Constitutional Amanedment Bill for GST. The Cabinet's decision, which was taken last evening, has been welcomed by India Inc, which sees it as a big milestone for the Indian economy.
Jayant Sinha, MoS Finance said that the government is committed to the GST rollout timeline, which is April 1, 2016.
Speaking on reforms, he said that one success this government will not be able to boast about this winter session is the Insurance Bill - actually, any Bill that's pending in the upper house of Parliament, as proceedings in that house have been held up over uproar over the issue of conversion.
Furthermore, he said it is not going to be possible for them to have a debate on the Constitutional Amendment in this session. The intent was to put the Bill into the pipeline, introduce it into the legislative calendar and to set it up for the Budget session to begin the process of getting it through both the Lok Sabha, the Rajya Sabha and the states, he said.
An ordinance may be the only viable option for the immediate future as far as the Insurance Bill is concerned, he said adding, "We will have to see what the strategy should be but ultimately we are accountable to the people of India. They have sent us here with a decisive mandate and the decisive mandate is to be able to get the economy moving, to get jobs created, to improve the quality of life of our people and so we have a lot of very senior capable leaders in parliament, in Lok Sabha and the Rajya Sabha and we will do whatever is the most appropriate in the interest of the people of India."
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