Bharatiya Vitta Salahkar Parishad (BVSS), a multi-professional body with more than 1 lakh membership, hosted a symposium on ‘Economic Growth and the Role of Parliament’ at NDMC Centre, New Delhi on December 22, 2015.
Speaking on the occasion, BVSS chairman and MD of SMC Shri Subhash Agrawal said, “In the national interest BVSS has decided to get everyone on board to call for national growth. As consecutive two Parliament sessions were almost washed out we thought it is necessary to spread awareness among public in general and professionals in particular about the role of Parliament in the economic growth. If there are genuine issues then other means can be adopted instead of stalling the parliament and important bills including GST.” BVSS has been working with an aim of nation building through cultural nationalism, integral humanism and enriched professionalism since 1999.
BVSS urged all political parties to come together and not to stall the process of development by cutting across the party lines and act in the interest of economic inclusiveness of all. Upholding the interest of nation and its economic growth, BVSS unanimously passed a resolution to support GST and appealed to all the political parties to pass the GST Bill in the current session of the Parliament.
Addressing the concerns and urgent requirement for the economic reforms, the resolution called for the immediate implementation of GST. “To take the much needed economic reforms forward, it is inevitable to put in place the GST regime for which all the trade and industry is eagerly awaiting for. Rationalisation of indirect tax structure is a must to trigger the economic activity in the country. In the direction of ease multiplicity of taxes and subsuming these in a single levy, GST shall prove to be great boon for the manufacturing, trading and service sector,” says the resolution.
Reiterating their stand on GST Bill, the resolution further states, “Availability of input taxes credits across trade shall be the harbinger of the enhanced tax compliance and reduce transaction cost for businesses, tackle the corrupt tax administration and business practices, thereby help in increasing the revenue potential for the exchequer for the developmental works.”
While representing the government position, Minister of State with Independent Charge for Power, Coal and New and Renewable Energy Shri Piyush Goyal said that government under the leadership of PM Modi is committed for economic growth and taking its benefits to the poorest of the poor. Presidents various associations such as Associated Chambers of Commerce of India (ASSOCHAM), The PHD Chamber of Commerce and Industry (PHDCCI), The Institute of Chartered Accountants of India (ICAI), The Institute of Company Secretaries of India (ICSI), Confederation of All India Traders (CAIT), The All India Bank Officers' Confederation (AIBOC) and Association of National Exchanges Members of India (ANMI) also expressed their views. —Organiser Bureau