Venkaiah hopes GST may get through budget session

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Parliamentary Affairs Minister Venkaiah Naidu, who is the government’s point man on GST Bill, has again expressed hopes about the passage of the GST Bill in the upcoming Budget session.Addressing delegates at the Nasscom annual forum, Naidu said: “I am confident that the Bill will be passed as we have spent and wasted enough time on this”. He blamed the Congress for the delay and said the Finance Minister has spoken to them multiple times on the GST and also the real estate bill.

GST is stalled in the Rajya Sabha, where the Congress has a majority. “We have had many discussions. The time has come for us to come together. It is unfortunate that the Congress party says we have not reached out to them. It’s wrong,” he said.

Blaming the Congress for “raising some issues that they have not raised when they brought the Bill in 2008”, the minister said certain demands of the Opposition are not possible to meet.

The minister also said the Real Estate Regulatory Bill is likely to be passed in the Budget session. The Bill ensures mandatory disclosure of all registered projects by promoters to customers through registration of real estate projects as well as real estate agents with the Real Estate Regulatory Authority. Also, the approved Real Estate Bill has made it compulsory for builders to deposit 70 per cent of the amount raised from buyers in an escrow account in a scheduled bank within a period of 15 days to cover the construction cost of the project for timely completion of the project.

 

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