Monsoon Parliament Session to commence from today; GST Bill, next RBI head on priority

| Monday, July 18, 2016 - 09:25
First Published |
Monsoon parliament session, GST bill, Narendra Modi, Congress, BJP, Parliament session, Raghuram Rajan, RBI,

New Delhi: Amidst a generous amount of rain in the scorched National Capital, the government will be commencing the Monsoon session of the Parliament from Monday. As parliamentarians sharpen their political rhetoric, the government will be making sure that this Monsoon session becomes a memorable one.

The Goods and Services Tax (GST) bill, a draft which was introduced in December 2014, was purported be an impetus for growth for the Narendra Modi government. But instead of the bill being passed in parliament, Opposition mulled over a specific demand, and that eventually led to the GST impasse. With the implementation of the bill, there would be a nation-wide value-added tax which would simplify India's taxation system.

In this Monsoon Parliament Session, Prime Minister Narendra Modi will be looking expectantly towards the Congress Party for definitive nod for the GST bill. With many prominent political parties giving the assent for the bill and Congress voicing support yesterday at the All Party Meeting, this Monsoon Parliament session is expected to be a fruitful one.

Then there is the fiasco over the Reserve Bank of India (RBI) Governor's position which was vacated by current RBI Governor Raghuram Rajan amidst repeated criticism and censure from BJP supremo Subramanian Swamy. It is expected that the chair will be filled by Arvind Panagariya, the current Vice President of Niti Aayog. The announcement of the new RBI governor post September 4 is deemed to be one big highlight of the Monsoon parliament session.

But, contrary to expectations, the government will have a contested debate on different issues, and although GST might finally see the dawn it deserves, it will have to pass through the twilight.

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