In the latest, former Union Minister P Chidambaram on Sunday said there are "serious differences" between the Union Government and state Finance Ministers on finalisation of the GST tax structure and that he did not think they were anywhere near an agreement on what the standard rate should be.
Addressing Bharatiya Janata Party (BJP) workers, Prime Minister Narendra Modi said on Sunday that the the Goods and Service Tax (GST) Bill will take India closer to achieving financial equality, adding that the Bill is an important legislation for "ek bharat shreshth bharat (One India Excellent India)" initiative.
Giving credit to an aspirational society for forcing politicians to support reforms, Finance Minister Arun Jaitley on Sunday said Indian economy has defied global slowdown and geo-political tensions and is now poised to seize the opportunity to grow faster.
Railways have initiated bold steps for restructuring its Board, including redistribution of work among members and creation of a new post of Advisor from outside for resource mobilisation, as part of Prime Minister Narendra Modi's reform agenda earmarked for the national transporter.
According to the global financial services major, though the government would ideally like to launch GST from April 2017, it is unclear whether administrative and technological set-up required to make the transition will be up and running by then.
Luxury cars, FMCG products, consumer durables, electronics items and readymade garments will become cheaper once GST is rolled out next year, but mobile phones, banking and insurance services, telephone bills as well as air travel will be dearer due to higher tax.
Speaking at the My Gov townhall on Saturday, Prime Minister Narendra Modi said that 8 percent plus growth over the next 30 years will bring the best of the world to India, even as he lamented being questioned for every "wrong" right from the Panchayat level.
The passage of GST Bill in the Rajya Sabha is "credit positive" for India's sovereign rating as the rollout of Goods and Services Tax regime will have a favourable impact on growth and tax revenues, Moody's Investors Service said on Friday.
Modi government on Friday formally implemented its central inflation target of 4 percent, an important confirmation of the inflation-fighting policies championed by Reserve Bank of India (RBI) Governor Raghuram Rajan, who steps down next month.