GST will be passed in Next Budget Session

Parliamentary Affairs Minister M. Venkaiah Naidu on Saturday reiterated that the Goods and Services Tax (GST) Bill would be passed in the second phase of the coming Budget Session of Parliament for which discussions would be held with the Opposition parties concerned.

He appealed to the Opposition to understand that the ruling National Democratic Alliance was steadily picking up numbers in the Upper House as well which was an indication of the inevitability of the passage of the GST Bill sooner or later.

Addressing as chief guest at the Micro, Small and Medium Enterprises (MSME) Conclave held at VPR convention centre here on Saturday, Mr. Venkaiah Naidu said that in the interests of the country, revolutionary changes were required to the tax regimes.

The GST Bill, once passed in Parliament, was expected to increase the growth rate of the Gross Domestic Product (GDP) by 1.5 to 2 per cent which would mean considerable progress, he said.

Referring to the forecast of a good monsoon, Mr. Venkaiah Naidu said this would further give a fillip to the economic activity leading to higher GDP growth rate for the country.