'Will compensate industry in another way for GST delay'

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SME Times News Bureau | 21 Dec, 2015
On the passage of the Goods and Services Tax (GST) bill currently stalled in the Rajya Sabha, the government said on Sunday it will "find another way" to bring benefits of the law to industry.

"Even if GST is not passed in Parliament, we will find another way to bring the benefits of law so that industry and business do not suffer," Power Minister Piyush Goyal said speaking at the Rotary Institute in Jaipur.

The GST Bill, that seeks to usher in a pan-India common market by reforming the country's indirect tax regime, was passed in the Lok Sabha in May. But it has been stuck in the Rajya Sabha, where the ruling National Democratic Alliance does not enjoy a majority.

"Bihar election results do not set us back. Every state has its own election dynamics. We will continue our focus on development," Goyal said.

At an all-party meeting held in New Delhi by Rajya Sabha chairman Hamid Ansari on Friday, the opposition, after weeks of confrontation on various issues, agreed to the passage of certain bills in the Rajya Sabha during the last week of the session, but consensus was elusive on the GST bill.

"India's consumption of coal is 0.5 tonnes per capita in 2015, what the US had 150 years back," the minister said.

In a tweet earlier, Goyal said: "India's renewable programme is the largest in the world. 175 GW by 2022. Five times growth in seven years. Entire world is appreciating."

"Ujwal Discom Assurance Yojna #UDAY scheme to turn around DISCOMs, also saves capital for PSBs," he added.