Venkaiah Naidu hopeful of rollout next fiscal
The NDA government wants to introduce GST (goods and services tax) through consensus by persuading the Opposition parties and there should be no real major hurdles to it, according to Union Urban Development Affairs Minister M Venkaiah Naidu.
He was speaking at a media conference here on Sunday. He said the GST was being discussed for almost ten years and the Congress was also favouring it in principle. According to studies, the GST would result in growth in GDP by 2-2.5 per cent and in exports by 12 per cent, he said.
“The passage of GST Bill is the need of the hour and there should be no politicking over it. This kind of tax is operational in over 160 countries and economic experts are unanimous that it is needed. We hope there will be a positive response from the Opposition parties, especially the Congress, and it can be passed in the Rajya Sabha without a hitch,” he said.
He expressed the hope that the GST Bill would be through in the current session of Parliament itself so that it can be sent to the different States and the GST can be rolled out in the coming financial year.
Global youth meet
Earlier in the day, the Minister inaugurated a global youth meet organised by Visakha Hridayshan.
“The youth are the strength of the country. We have the advantage of the demographic dividend and we are the youngest nation in the country. But we must train our youth, give them opportunities and use their skills for the development of the nation. We must also take care that our youth does not fall prey to certain undesirable tendencies such as drug abuse. Such problems are being faced by the West in particular,” he said.