Bengal’s stronger TMC govt can push GST Bill: India Inc

Hailing the landslide victory of Trinamool Congress in West Bengal assembly polls, industry leaders on Thursday said that the state can play an important role in the passage of long-stuck GST legislation with Chief Minister Mamata Banerjee reiterating her support to the bill.

 Congratulating the party on its success, industry body CII's Eastern Region Chairman and Tata Steel's Managing Director T V Narendran said that the state can play a key role in the rollout of GST, long-billed as a potential game-changer for the Indian economy.

"The decisive election victory of the TMC reaffirms the direction of the government and sets the tone for faster economic reforms in West Bengal," he said while congratulating Banerjee and also pledged to support the state government. 

Earlier in the day, Banerjee said that her government would support GST bill in Parliament as promised earlier. RP-Sanjiv Goenka Group Chairman Sanjiv Goenka said said that Banerjee's "resounding return is a good news for the people and a great news for those who want Bengal to join and win the eagerly-awaited race for economic development. "We are glad that she has won the agni-pariksha of people-support and is ready to open her second innings." 

Moreover, industry pinned hopes on early passage of GST bill and faster economic reforms following the results of assembly polls in four states. “Results of the Assembly Elections in key states, including Tamil Nadu, West Bengal, Assam and Kerala, have strengthened Prime Minister Narendra Modi who will now be able to speed up economic reforms with help of non-Congress friendly parties like AIADMK and even Trinamool Congress,” Assocham President Sunil Kanoria said.

“The NDA Government will certainly find it easier to deal with Trinamool Congress and AIADMK in the Rajya Sabha for passage of crucial bills, mainly the long-pending and the most important, GST (Goods and Services Tax),” he added. Ficci said that the mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage.

“This will restore investor confidence and help attract greater investments and create more employment opportunities,” Ficci President Harshvardhan Neotia said. “CII looks forward to faster reforms. Ease of doing susiness, industrial development policies, infrastructure creation, and key sectors of the economy must be strongly developed,” Abhijit Barooah, Co-Chairman of CII North East Council, and Managing Director, Premier Cryogenics Ltd, said. 

Scripting history, the BJP stormed to power in Assam bagging a government in the north east for the first time dethroning Congress which also lost Kerala while Jayalalithaa and Mamata Banerjee retained power in Tamil Nadu and West Bengal with spectacular victories.