NEW DELHI: Union Finance Minister Arun Jaitley said that the Government will go ahead in the matter of reforms, despite of the election results in Bihar. The Finance Minister added that the drubbing in Bihar will not have any impact over the Central Government’s plans for reforms.
Speaking over the Goods and Services Tax (GST) law, Mr Arun Jaitley said that the constitutional amendment for the law will be passed very soon and that it is a matter of time.
The GST law aims at restructuring the old laws of tax in the constitution and hence, requires a constitutional amendment. As per the rule a majority of both the houses of the parliament should support the amendment for the modifications to be enacted into the constitution.
The Goods and services Tax law was already been cleared by the Lok sabha. However, it is opposed by the Congress in the Rajya Sabha, where the Indian National Congress has the majority.
Dramatically, Bihar’s JD(U) has earlier supported the GST bill in the Lok Sabha. But after the Bihar elections, the equation has changed. Congress was part of the grand alliance that won the Bihar elections recently. Hence, it is a matter of debate over the JD(U)’s stands on the GST bill in Rajya Sabha.
“I don’t think Nitish will do that. He had supported the bill in the Lower House and i expect him to do so in the upper house too, if he really supports the development of Bihar. The GST bill helps the state to get additional benefits and i don’t think Nitish will oppose it”, the Finance Minister said.
The Central Government has earlier planned to roll out the Goods and Services bill from April 1st, 2016. However, its clearance in the Rajya Sabha has become a question, the First Post reported.