Delay in GST Bill has cost India Rs 12 lakh crores: Congress

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Senior Congress leader M. Veerappa Moily
Senior Congress leader M. Veerappa Moily

New Delhi : Senior Congress leader M. Veerappa Moily on Wednesday said the BJP put hurdles in the way of implementing the GST bill when the UPA was in power, which has led to loss of Rs 12 lakh crore.

"The country has faced around Rs 12 lakh crore loss because of delay in implementing the GST bill. More than seven to eight years have passed... Who is the loser in delaying it? It is the people of the country," Moily said during a discussion on the GST bill in the Lok Sabha.

"In our political gamble, we do not see the interest of the people, who have lost around Rs 1.5 lakh crore as on today on an annual basis," he added.

Moily pointed out that it was the previous Congress-led United Progressive Alliance government which brought in the GST bill.

"This important game-changer enactment was envisioned by the UPA government. It should have been implemented at the time, but some opposition parties then felt that it has to be halted," he added, alluding to the Bharatiya Janata Party, which is in power now.

"It is a transformative reform measure which is unprecedented and historical," Moily said.

"During that time the Finance Committee headed by senior BJP leder Yashwant Sinha presented a report in 2011. Quite promptly the then UPA government came up with legislation, but it was halted again for reasons best known to the persons who opposed it," he added.