New Delhi: A day after introducing thelong-pending GST Bill in the Lok Sabha, Finance Minister ArunJaitley today said the government is "extremely determined" topush insurance sector reforms and will not allow politicalobstructionism to stop it.
"The government is extremely determined to go ahead withthis (insurance sector) reform and will not allow aParliamentary disturbance to obstruct or delay a reform ofthis kind," he said while addressing a FICCI function.
Without naming Trinamool Congress, Jaitley said that thepolitical party, whose members are allegedly involved in chitfund scam, is trying to divert the attention by creatingobstruction in the functioning of Rajya Sabha where the rulingNDA does not have a majority of its own.
The Minister regretted that although the insurance bill,which seeks to raise FDI cap from 26 per cent to 49 per cent,was approved by Standing Committee of Parliament and SelectCommittee of Rajya Sabha, "political obstructionism is beingused to ensure it does not come on the agenda of Parliament."
Observing that such attitude cannot stop a reformwhich has support of overwhelming majority, Jaitley said,"there are enough safeguards, and constitutional system candeal with and effectively defeat this policy of politicalobstructions."
Jaitley said that with more and more state assembliesgoing to polls, the ability of the members in the Rajya Sabhato create obstruction will get "further diluted."
Coal bill is another important legislation which is beingheld up due to political obstructionism in the Rajya Sabha, hesaid, adding "it is a bill which has been unanimously passedby the Lok Sabha. All doubts have been cleared. It was notallowed to come on the agenda of Upper House for discussion."
After prolonged delay, Jaitley yesterday introduced theGST bill in Lok Sabha, which will create a single taxfor goods and services across the country from April 2016.
Jaitley said coal is the other important reform that thenew government is pursuing, but is "held back because ofpolitical obstructionism"."The whole object seems to be don't allow theselegislations to come up for debate...And the reason forpolitical obstructionism is one political party finds its
members involved in something which is unsavoury andtherefore to divert attention from that use obstructionism asan instrument," he said.
He also took a jibe at left parties, saying Rajya Sabhaseems to be their last bastion.
Legislative business has been affected in the Upper Housefor the past few days because of stand off between oppositionand government over the religious conversion issue. The Oppositionis demanding reply on the matter from Prime Minister NarendraModi, which is not acceptable to the government.
The Finance Minister, who would be presenting his firstfull budget in February, also said there is a need for ashared national vision because that is what the country needsto get back to 9-10 per cent growth rate.
"The clear choice before us is, either we reform or wemiss the bus once again. The new government... are absolutelyclear about one fact that the course that we have adopted isunalterable and therefore despite various challenges which arethrown our way, we are extremely clear about the direction
which we have to follow...," he said.
Referring to taxation, Jaitley said the new governmenthas "eliminated" the fear of retrospective taxation whichhad brought a bad name for the country.
"There is slowdown in very large part of the world,investors are looking to come into India. We still have alarge number of areas where we have to reform and thereforefor the next decade we can have an agenda full on our table,"he said.
Jaitley further said the next fiscal is going to be achallenging one as the country strives for higher growth."It is a year where we have to first cross the 6 per centmark in terms of growth rate, improve upon our revenues, givea greater life as far as our citizens are concerned and inthat environment of enthusiasm that is created, more and morechanges that will lead us to double digit target," he said.
Jaitley said the Prime Minister himself is looking intothe stalled projects to fast track them.
PTI
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