New Delhi: Even as the Monsoon session of Parliament is being washed-out and only a week is left, Finance Minister Arun Jaitley is still hopeful that the Goods and Services Tax will be rolled out in April 2016.
"Monsoon session washout doesn't mean end of GST. April 1, 2016 deadline is ideal for both state and Centre," said Jaitley in an exclusive interview to CNBC TV-18.
The government needs Parliament to approve the Constitution Amendment Bill in the current session ending on August 13 before half of the 30 states clear it and the new regime is rolled out from April 1, 2016, so that a nationwide Goods and Services Tax (GST) can replace all existing indirect taxes like excise and VAT.
However, Parliament is witnessing repeated disruptions and adjournments as the Opposition is adamant on its demand fro resignations of External Affairs Minister Sushma and Rajasthan Chief Minister Vasundhara Raje in Lalit Modi row and Madhya Pradesh Chief Minister Shivraj SIngh Chouhan in the Vyapam scam.
Jaitley said that the Congress should discuss the GST Bill as it was theirs bill. The Congress-led UPA government had proposed the Bill in 2006-07 Budget.
"Congress must come to negotiating table as it was theirs bill. Politics is a process and there is no stalemate in democracy. Mere stubbornness can't thwart the process."
As GST is a constitutional bill, joint session is not an option before the government.
Jaitley added that conditions are also favourable for a rate cut. The remarks came just a day after the Reserve Bank of India left interest rates unchanged.
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