Failure to pass GST may affect Govt's ability to ramp up spending: WB

January 07, 2016 03:32

The World Bank today warned that failure to pass the Goods and Services Tax bill by Parliament could hamper the Indian government's ability to ramp up spending on infrastructure.

"A failure to pass the Goods and Services Tax could hamper the government's ability to ramp up spending on infrastructure needs and preserve the status quo of fragmented domestic markets," it said in its latest report Global Economic Outlook. The Constitution Amendment bill to roll out GST is stuck in the Rajya Sabha where the ruling NDA does not have a majority of its own.

The bill is being opposed by Congress although many other opposition parties are on board. Congress is seeking three changes in the bill, including a constitutional cap on the GST rate, to support it. In its report, the World Bank said that risks are mostly of domestic origin and mainly on the downside.

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