Jaitley hopeful of GST bill passage in upcoming Parliamentary session

Says the passage of the bill is very important

Ahead of monsoon session, Finance Minister Arun Jaitley today expressed hope the "very important" GST Bill will get through in Parliament.

"Some people will try to oppose (the bills). This conflict continues in parliamentary democracy... I think passage of GST is very important. The possibility of this is high," he told Doordarshan here.

The monsoon session starting July 21 is expected to be a stormy one. The opposition parties are closing ranks on several issues including Vyapam scandal, Lalit Modi controversy and the latest Socio Economic Caste Census (SECC).

Jaitley further said India is a "bright spot" amid slowing global economy and would need to further improve policies to move to higher growth trajectory.

"India is a bright spot. The global economic situation is very slow. India is moving from 7-7.5 per cent to 8 per cent. To take advantage of this, India needs to improve its economic policy... For that political support within the country will also be required," the Minister said.

Answering questions on the recent SECC, Jaitley said it reflected the poverty and pain within the country and the data will help in framing policies to benefit the needy and improve the situation.

The GST Bill has been passed in Lok Sabha and is being currently scrutinised by a select committee of Rajya Sabha, the upper House of Parliament. The ruling party does not enjoy majority in the House.

The government aims to roll out Goods and Service Tax (GST) Bill, a new indirect tax regime from April 1, 2016.