Draft bills on GST to be introduced in second part of budget: FM

Jaitley said that hopefully once the GST is implemented, the scope for generation of more black money itself becomes difficult.

New Delhi, Feb 3: Finance Minister Arun Jaitley on Friday addressed a post-budget interactive session with Industry associations at Vigyan Bhawan.

While addressing, Jaitley said that hopefully once the GST is implemented, the scope for generation of more black money itself becomes difficult. He further said that there were several issues in terms of policy in relation to the draft GST legislations.

''My target is to finalise those drafts and take them in the second part of budget session of Parliament,'' Jaitley said. Jaitley further said that setting up a "bad bank", or a kind of asset reconstruction company set up to buy non-performing assets of banks at market price, could be a solution to deal with the festering problem of NPAs.

"It (bad bank) is also a possible solution. We will take it on board for discussion," Jaitley said here at the post-Budget interaction with India Inc.

The Economic Survey 2016-17 has suggested establishment of a bad bank to deal with the NPA issue.

OneIndia News (with IANS inputs)