When the second half of the budget session begins on April 20, the Modi Government intends to go ahead with the Constitutional Amendment Bill on the Goods and Services Tax (GST), Union Finance Minister Arun Jaitley said on Friday.
The government introduced the Bill in the Lok Sabha during the Winter Session.
Addressing investors at an energy conclave, Urja Sangam, the Minister said the Centre was trying to create an investment-friendly environment, both in terms of taxation and ease of doing business. “Investment has to be both domestic and international and for that we have to open our doors ... But merely by opening doors, investments won’t come,” Mr. Jaitley said, explaining that the government was taking steps for creating a conducive environment for investments.
Arbitration ActFor easing the conduct of business in India, the government will bring a Bill in the next session of Parliament to amend the Arbitration Act and laws pertaining to commercial matters, Union Law and Justice Minister D.V. Sadananada Gowda said here on Friday.
Mr. Gowda said the idea behind amending the laws was to facilitate ease of business for investors in the country. He said the amendment to the Arbitration and Conciliation Act, 1996 would provide for time-bound disposal of commercial matters.
Speaking at the inauguration of the national seminar on “Law and Good Governance” organised by Punjab University, the Union Minister said the government was already working on the amendments. “So far the commercial cases are not dealt exclusively in lower courts and High Courts, which delays the decisions,” he pointed out.
The proposed amendment is based on recommendations of the Law Commission’s 246th Report
(With additional inputs from Gaurva Vivek Bhatnagar in Chandigarh)
