"I don't see it as a setback to the economy...structural reforms will continue. They should continue at a rapid pace," he said and expressed the hope that JD(U) would support the Constitutional amendment bill to roll out the long-pending GST as the new tax structure would benefit Bihar.
About reforms, Jaitley said that government would continue them by taking executive actions and also in the Budget, which would be announced in February next year.
To a question of the pending GST bill, he hoped that Bihar would support the legislation because as a consuming state it would benefit from the new indirect tax legislation.
"Bihar and JD(U) had supported this in the Lower House...If Nitish Kumar, as a responsible leader, has been elected on the plank of development, then certainly he wants more revenue for Bihar,....," Jaitley said.
The government had planned to roll out GST, from April 1, 2016 but the Constitution Amendment Bill is stuck in the Rajya Sabha where the ruling NDA does not have a majority.
Once rolled out, it will subsume various levies like excise, service tax, sales tax, octroi, etc, and ensure a single indirect tax regime for the entire country.

Stating that GST roll out is a matter of time, Jaitley said the 'obstructionist' position of the Congress would not continue for long as the country's mood is reform oriented.


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