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Govt to introduce bankruptcy bill in Parliament tomorrow
Posted On Dec 20 2015
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He was responding to a specific query on whether the GST Bill was discussed with the AIADMK supremo, whose party has a combined strength of 49 MPs in the two Houses of Parl ament.
Finance Minister Arun Jaitley will on Monday table in parliament the Insolvency and Bankruptcy Bill, the biggest reform proposal after the Goods and Services Tax (GST) bill, the government said.
Talk to the Opposition and meet Congress’ three weighty objections (on GST) to pass the Bill, said Chidambaram.
The ongoing Parliament session ends on Wednesday.
“Finance Minister will introduce Insolvency and Bankruptcy bill in Parliament tomorrow”, Economic Affairs Secretary Shaktikanta Das tweeted.
Sharply revising downwards the projected gross domestic product (GDP) growth for this fiscal by one percent to the 7-7.5 percent range, the government on Friday said the decline in nominal GDP growth will create challenges for meeting the current fiscal deficit target of 3.9 percent of GDP.
Chidambaram asked the government to accept three “weighty objections of Congress so that the bill could be passed”.
The Congress has been opposing the present Constitution Amendment Bill on GST on three grounds. Chidambaram said: “Rate cap can be provided in the Bill through skilful drafting”.
Ridiculing the agitation programmes undertaken by Congress party workers yesterday in support of their leaders who appeared before a court in Delhi in connection with the National Herald case, the minister said the leaders should set examples and standards in public life with their acts.
Jaitley had on Saturday accused the Congress of delaying the long-pending GST due to “collateral reasons”. “I’ve no doubt in my mind that the attempt to delay the GST is entirely for collateral reasons”, he said. “And the only collateral reason I suspect is if I couldn’t do it, then why should somebody else do it?” “April 1, 2016, is notsacrosanct and not achievable at all”. As far as Lok Sabha is concerned, it is going on well.
