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Union Minister M Venkaiah Naidu has expressed hope that GST Bill would be passed in the Parliamentary session beginning on Monday, but termed the Congress’ demand for a cap on tax rate “neither feasible nor advisable”.
“GST is an important revenue side reform. It has been going on for the last eight years. There is a broad consensus among States with a few reservations. Even Tamil Nadu has opposed the Bill saying it is a manufacturing State. These concerns are being addressed by the Finance Minister. The Congress wants a cap on the tax rate. This is neither feasible nor advisable,” the Minister said in reply to queries from reporters here.
Naidu, who holds the charge of urban development, housing and urban poverty alleviation, was in the city to inaugurate a meeting held in connection with the fourth edition of India International Coir Fair 2016.
Reiterating that the Centre was working towards a consensus on the GST Bill, Naidu pointed out that the Bill was mooted nearly eight years ago when Pranab Mukherjee was the Finance Minister.
“The country has waited long enough and the young generation wants the Bill passed as they want empowerment and we at the Centre have understood the mood of the new generation,” he said.
Farm productivity Emphasising the need for imbibing mechanised farming practices to enhance crop production and productivity, he said “Agriculture has become an unremunerative proposition; not only because of the vagaries of monsoon and market fluctuation, but also due to inconsistent policies and rising input cost.” “While the import of pulses has been considered to tide over the short supply, we must understand that India cannot survive on imported food. We need home-grown food for security,” he said, urging participants to take to mechanisation, newer farming practices and ideas in the interest of the farming community.
He pointed out that the Centre had appointed a Pulses Commission under Chief Economic Advisor Arvind Subramanian to understand pulses production.
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