Sunday, Dec 21, 2014

Jaitley to meet state finance ministers on Monday

Jaitley is scheduled to present the Union Budget early next month. Jaitley is scheduled to present the Union Budget early next month. (Source: PTI)
By: Press Trust of India | New Delhi | Posted: June 6, 2014 4:16 pm

Finance Minister Arun Jaitley will meet his state counterparts on Monday as part of pre-budget consultations and also discuss progress towards the proposed Goods and Services Tax (GST).

Jaitley is scheduled to present the Union Budget early next month.

He will hold consultations with the finance ministers of states and Union Territories on June 9, an official said. The long delayed GST may also figure in the meeting.

The ambitious indirect tax reform could not be passed during the Congress-led United Progressive Alliance regime for want of consensus on different issues.

The BJP, in its manifesto, had committed to “bring on board all state governments in adopting GST, addressing all their concerns.”

GST would usher in a new indirect tax regime which would subsume levies such as excise, service and local taxes.

The UPA government introduced a Constitution Amendment Bill in the Lok Sabha in 2011 to pave the way for the GST.

Jaitley’s meeting with state finance ministers is part of pre-budget consultations started by his ministry on Thursday.

He held meetings with representatives of the agriculture and social sectors on Thursday and met trade representatives this morning.

The BJP stressed in its manifesto that it will place Centre-State relations on an even keel through consultation and strive for harmonious relations. It pitched to evolve a model of national development, which is driven by the states.

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