Industry to be safeguarded from GST delay: Goyal

Goyal, who also holds the new and renewable energy portfolio, highlighted the country’s 175 GW green energy target by 2022.

To ensure that businesses do not suffer due to delay in the GST bill passage, the government will “find another way” to bring the benefits of the law to the industry, Power Minister Piyush Goyal said.

“Even if GST is not passed in Parliament, we will find another way to bring the benefits of law so that industry and business does not suffer,” Mr. Goyal said in a tweet. However, he did not elaborate.

Finance Ministry had earlier expressed hope that the Goods and Services Tax regime, the constitution amendment bill for which has been stalled in the Rajya Sabha, will be rolled out in 2016.

Congress leader Anand Sharma had on Saturday said that the April 1 deadline for rolling out GST will not be met “even if the trinity of Gods — Brahma, Vishnu and Mahesh — descend on earth”, as the government has not yet completed the preparatory work for the new indirect tax regime.

Mr. Goyal, who also holds the new and renewable energy portfolio, highlighted the country’s 175 GW green energy target by 2022.

“India’s renewable programme is the largest in the world. 175GW by 2022. 5x growth in 7 years which the entire world is appreciating. India’s consumption of coal is 0.5 tonnes per capita in 2015, what the US had 150 years back,” he said.

Regarding the government’s package for state discoms, he said: “Ujwal Discom Assurance Yojna #UDAY scheme to turn around DISCOMs, also saves capital for PSBs.”

The coal production in the country will double in the next five years, he said