NEW DELHI (Reuters) - The government hopes to pass a bill for the rollout of a nationwide goods services tax (GST) in the upcoming session of parliament that starts on July 18, Parliamentary Affairs Minister Venkaiah Naidu told reporters on Wednesday.
Investors have billed the proposed GST as a "silver bullet" for India's economy that would replace multiple federal and state levies - a chaotic structure that inflates costs for businesses.
The opposition Congress party, however, has blocked the measure in parliament.
The upcoming parliament session, popularly known as the monsoon session, will end on Aug. 12, Naidu said.
(Reporting by Rajesh Kumar Singh; Editing by Malini Menon)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app