Finance Minister Arun Jaitley on Sunday made a strong case for passage of Goods and Services Tax (GST) and land acquisition Bills saying they were necessary to create jobs and remove poverty.
“The latest data suggest that the investment cycle is slowly turning around and stalled projects are being unblocked at a faster pace. Passing the GST and reforming the >land law will accelerate this investment turnaround,” he said in his Facebook post.
While the GST Bill is being scrutinised by a select committee of the Rajya Sabha, the Land Acquisition Bill is being discussed by the joint committee of Parliament. Both the committees are expected to submit their reports at the beginning of the next session of Parliament.
In his comments on the Socio Economic and Caste Census (SECC), which painted a very grim picture of the rural India, Mr. Jaitley said that NDA government was trying to create conditions for accelerating growth to 8-10 per cent through a set of measures.
”...the government is creating the conditions for greater private investment: implementing the GST and creating a common market, reforming the land law, easing the costs of doing business, and unblocking stalled projects are all measures that will improve the conditions for investment,” he said.
