With political outfits caught in a blamegame, the GST Bill's future in Parl hangs in oblivion

Even as US industry asks Narendra Modi to deliver on reforms reflecting their unhappiness over the slow pace of reforms in India, the current ongoing investigation of chopper deal seems to have taken the centrestage for BJP as it feels it can corner and isolate Congress on this supposedly anti-national deal  involving Anglo-Italian Augusta  Westland and the UPA government.

While the entire nation awaits clearance of the GST bill , believed to be extremely beneficial for the Indian Economy , the chances of the same bill being discussed in the Parliament and getting cleared in this legislative session are getting slimmer with BJP accrediting a lot of importance on identifying the beneficiaries from the Augusta Westland deal as the bribe giving party has already been identified.  BJP is accusing the top leadership of Congress party of benefiting from the tainted defence deal. The NDA (National Democratic Alliance) and Congress leaders are fighting like cats and dogs in Parliament over the issue. 

GST  - Goods and Service Bill , touted to be the biggest indirect tax reform in India is awaiting its clearance since UPA days. The bill was successfully introduced for the first time in 2009, but UPA government could not pass it. At that time BJP had ironically opposed the GST bill. 

With NDA in power in 2014, optimism floated on clearance of GST bill  when NDA government made slight changes in the same bill and reintroduced it in the Parliament. However the clearance of the GST bill originally introduced by UPA in 2009  is facing hurdles due to  Congress party not willing to  allow BJP to take credit for the GST Bill.Two third majority is required in both houses and 50 percent of state assemblies need to ratify the bill, for the GST bill to be passed and implemented. 

Few believe BJP is paying the price for opposing the GST bill when UPA was in power. With the global economic situation turning volatile and analysts predicting turmoil in global markets, emanating from the Chinese economy , India can definitely deliver on internal reforms in order to minimise the damage that can happen due to external factors. Since the GST tax system is accepted internationally and followed by almost 150 countries worldwide , no one doubts the relevance of the bill and its possible positive impact on the GDP growth, on the contrary it is the time delay and the prioritising of GST bill by the current government that might worry investors.

Finance Minister, Arun Jaitley himself has said that the GST when implemented will integrate the Indian economy. Few experts believe the GDP might expand by 1 to 2 percent once the GST bill is implemented.  In his recent comments Finance Minister has said that he has had one round of discussion with Congress on the GST bill and he expects to discuss the bill with Congress next week. According to Arun Jaitley the only contentious issue between Congress and BJP is whether the 18 percent GST rate should be put in the Constitutional amendment bill. 

It will be extremely interesting to see if there will be an agreement forged in coming days between ruling NDA and chief opposition party - Congress over GST bill in the midst of direct and personal allegations being levied on congress leadership over the chopper deal. There is a lot at stake for the ruling NDA that seems to have lost its focus and is wandering into wilderness, amidst a global economy navigating in uncharted territory