Arun Jaitley Expects Progress On GST Bill In April-May

Published: 09:19 GMT, Mar 14, 2016 |

Finance Minister Arun Jaitley said on Sunday that he expects lawmakers to make progress on a goods and services tax (GST) bill and a bankruptcy law in the second part of Parliament’s Budget session that runs from April 25 to May 13.

Mr Jaitley said the government was also working towards bringing the tax regime at par with global levels. “What is work in progress still is that we are trying to ease the environment for people doing business in India,” Mr Jaitley said, addressing the final leg of an International Monetary Fund event in New Delhi.

The proposed GST bill would pave the way for a single market for goods in the country for the first time.

The bankruptcy law is aimed at unifying and overhauling rules governing the liquidation or revival of ailing companies into a single code and for the first time imposing deadlines.