Thursday, 4 August 2016

GST Bill Finally Gets a Thumbs UP in the RS!

Agreed that GST was a brainchild of Manmohan Singh Ji and he was a visionary when it comes to the Indian economy. However, the congress and the then PM MMS have surely failed in getting this bill passed! One can have different opinions about the issue of Goods and Services Tax bill, but mine is clear - the present government has successfully displayed the communication skills once again. And we have to give the credit for that!

It is the responsibility of any government which is in power to do every possible thing which will benefit the masses. GST bill is one of those economic reforms which will take India to a new height like once we have seen back in 1991 when MMS brought a revolutionary change. Before yesterday, media and other political parties created hue and cry that the NaMo led NDA does not form dialogues with its opposition. This perception, one must see, seems to have been resolved with the passage of a bill which was hanging suspended for almost ten long years! However, no one can be so arrogant to take away all the credit from Congress and other political parties who helped to get the bill cleared with a full majority in the Rajya Sabha. THERE WERE ZERO NEGATIVE VOTES! For the first time (at least in my short life) I have seen the house functioning with a complete consensus. The also did some overtime...

Furthermore, the major issues will come, then, in implementing the new taxation rules, creating a co-operative federalism at work and also, coaxing the consumers and the sellers. Experts have diverse opinions to offer about the bill - some say it'd bring the costs down and some say it'd take them up in the beginning. As far as the trusted voices are speaking, the GST will bring a three-dimensional change in the Indian scenario.

* Improving available resources for poverty alleviation
* Make 'Make in India' even stronger by making India one market
* Dual monitoring caricature of taxation - one by state and one by centre will be beneficial

After the initial hiccups, the GST will surely facilitate India's growth at a global level. After so many years, India has finally found the staircase to become a global marketplace in the truest sense. Let's hope for a better tomorrow once the GST becomes an 'official' reality next year.

On a personal level, I thank our politicians who came to a consensus even after their reservations and egos. Long live this spirit of the assembly!

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