#SupportGST: 'It will open up more options to state govts, speed up institutional reforms'

The GST Bill in the Lok Sabha is one the pending bills in Parliament. The purpose of the Fiscal Responsibility and Budget Management Act, 2003 is still not clear to the common man who is dependent on government supported welfare programmes. Introducing Public Private Partnership in infrastructure development, target/demand-driven development programmes and facilitating private corporate sector to participate in mutual fund markets are in fact the result of the FRBM Act. Whatever be the political affiliation, the central government and state government is struggling to raise tax incomes. As per the GST Bill section 269A, ‘goods and services tax on supplies in the course of inter-State trade or commerce shall be levied and collected by the Government of India and such tax shall be apportioned between the Union and the States in the manner as may be provided by Parliament by law on the recommendations of the Goods and Services Tax Council’.