A day after it failed to get support of states on the draft GST Bill, the Centre on Friday said that it is “working overtime” to push reforms mainly in sectors including insurance, coal and the Goods and Services Tax (GST).
“We are working overtime on reforms…insurance bill will be taken up next week,” Jaitley said at an event organised by Aaj Tak.
The minister also exuded confidence that the government will be able to introduce the GST Bill in the ongoing Winter session.
“I will try to introduce the Constitution amendment bill for GST in the current session of Parliament so that it could be discussed and considered in the next session,” he said.
On Thursday, in a meeting with a select group of ministers, the finance minister is believed to have assured the states of compensating for any possible revenue loss while also promising that the Centre will evolve a mechanism for addressing the concerns of manufacturing states like Gujarat and Maharashtra.
After the meeting, the chairman of Empowered Committee of state finance ministers, Abdul Rahim Rather had said that there was “some headway” made in the negotiations and the EC would be meeting the finance minister again in a week’s time.
Further, expressing hope that the economy will grow at 6-6.5 per cent in the next financial year and over 7 per cent thereafter, Jaitley said that a bill to clear the mess of the UPA regime is being taken up by Parliament.
On the criticism that the government is shying away from taking bold reform measures, the finance minister said “sensationalism is not part of economic planning”.