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GST Bill Worries Investors As Rajya Sabha Disruptions Begin


Markets fell soon after the Rajya Sabha was adjourned until 11.30 am, as the fate of the Goods and Services Tax (GST) left investors worried.

In fact, markets fell in the last hour of trade on Tuesday, after a series of adjournments, saw heavy selling pressure.

This was after hopes were raised a few weeks back, following a meeting of the Prime Minister with Sonia Gandhi and Manmohan Singh for the passage of the GST Bill.

GST Bill Worries Investors As Rajya Sabha Disruptions Begin
On Tuesday the Congress accused Prime Minister Narendra Modi's government of pursuing a "vendetta" against the Gandhi family, in a fresh blow to hopes of passing a crucial tax reform.

This was after a judge ordered Sonia Gandhi and Rahul Gandhi to appear in court regarding the National Herald case.

The GST Bill is being touted as one of the most important and crucial reforms for the country and has been languishing for many years now.

The Bill is one of the biggest tax reforms the country has seen since independence. A delay in passage could leave investors disillusioned and could see stock markets react negatively.

It may also lead to slower pace of foreign investments in the country, if foreign investors see that the government cannot push through important reforms in the country.

Read more about: gst rajya sabha
Story first published: Wednesday, December 9, 2015, 11:27 [IST]
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