TIL Desk/National/New Delhi/ Prime Minister Narendra Modi pitched for conducting simultaneous elections to the Lok Sabha and the state assemblies and shifting to a January-December fiscal year. Addressing the Niti Aayog Governing Council’s third meeting, which was attended by several state chief ministers, Modi said for long, India had suffered from economic and political mismanagement.
“Because of poor time management, many good initiatives and schemes had failed to deliver the anticipated results,” he said, adding there is a need to develop robust arrangements that could function amidst diversity.
The prime minister called for carrying forward the debate and discussions on holding simultaneous elections to Parliament and state legislatures. On the Goods and Services Tax (GST), Modi asked the states to make legislative arrangements “without delay” for the rollout of the indirect tax regime from July 1.
The GST, which will subsume central excise, service tax, Value Added Tax (VAT) and other local levies, is scheduled to be rolled out from July 1. The consensus on GST reflects the spirit of ‘one nation, one aspiration, one determination’, Modi earlier said in his opening remarks at the meeting.
Referring to the change in the budget dates, he said in a country where agricultural income is exceedingly important, budgets should be prepared immediately after the receipt of agricultural incomes for the year. He added that there have been suggestions to follow January to December as financial year.
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