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Government to Request the President for Extended Monsoon Session

Finance Minister Arun Jaitley wants the Goods and Service Tax to come in effect by April 2016.

Updated
India
2 min read
(L-R) Piyush Goyal, RS Prasad, Arun Jaitley at the cabinet briefing. (Photo: <a href="https://twitter.com/DG_PIB/status/641526117577261056">Twitter.com/@DG_PIB</a>)

The much awaited winter session of the Parliament maybe longer than the monsoon session. After a washout monsoon session, the Parliament has decided to hold a special session to make the Goods and Service Tax (GST) a reality.

Finance Minister Arun Jailtey announced at a cabinet briefing that the government will request President Pranab Mukherjee for an extended winter session.

Even when the numbers are with BJP in Rajya Sabha, the only way they have is to stop the proceeding of the parliament.
— Arun Jaitley, Union Finance Minister

Earlier, Venkaiah Naidu, Minister of Parliamentary Affairs had pointed out that the GST is important for the Indian economy as a global financial crisis is imminent.

But, the plans for a sparate session for GST were abandoned on Wednesday.

On Wednesday, Arun Jaitley pointed out that the political parties need to show statesmanship as the country is trying to increase its growth rate.

Congress’s attitude is of revenge against those who reduced them to 44 seats: Arun Jaitley Cong has only one weapon to not let GST pass during the Parliamentary session, disturbing the House.
— Arun Jaitley, Union Finance Minister

Highlights of the Cabinet briefing:

  • Cabinet approves salient features of spectrum trading based on TRAI recommendations on guidelines of spectrum trading.
  • Approval to 100% FDI in ATM activity, expected to give fillip to govt’s financial inclusion efforts including PMJDY.
  • Cabinet approves introduction of Gold Monetization Schemes (GMS) as announced in the Union Budget 2015-16.
  • Cabinet hikes Dearness Allowence by 6% with effect from 1st July to 119%; expected benefit 50 lakh govt employees & 56 lakh pensioners.
  • Union Minister Communication and Information Technology Ravi Shankar Prasad announced that Spectrum ownership is that of the Government of India but the right of use can now be traded.
  • Piyush Goyal, Union Power Minister, announced Cabinet’s approval of National Offshore Wind Energy Policy.
  • The approval, he claims, paves way for offshore wind energy development including, setting up of offshore wind power projects and research and development activities, in waters, within 200 Nautical Miles from the base line.

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