Connect with us

Top News

Morgan Stanley predicts NDA gaining Rajya Sabha votes for GST



Morgan Stanley, GST, NDA, GST bill, Rajya sabhaNew Delhi: The long waiting GST bill that could be passed this year is likely to gain votes that it requires to be passed in the Rajya Sabha this year, according to a report by American investment banker Morgan Stanley.

“The government could gain the votes it needs in 2016 to pass a Goods and Services Tax (GST) bill,” Morgan Stanley said in a research note.

“The key to the bill’s passage is a reduction in the number of upper house (Rajya Sabha) members opposing the bill. That number currently stands at 91 and it needs to fall to 82 for the bill to clear. We forecast that to happen by July 2016,” the report noted.

“Once the bill clears Parliament, getting the bill passed by more than half of the states should not prove challenging, as the BJP and its allies are currently in power in 12 of 29 states, and a few beyond the 12 are supportive of the bill,” it added.

The GST Bill, already passed by the Lok Sabha, is stalled in the Rajya Sabha, where the ruling National Democratic Alliance (NDA) lacks a majority.

Morgan Stanley said the GST Bill will have significant implications on the stock market, while six of the 10 key sectors would benefit from its implementation.

Sectors like consumption, logistics, house building materials, and industrial manufacturing are likely to experience a positive impact with GST.

However, if tobacco products and oil and gas are included in the GST, these could see a negative impact, while the remaining sectors would likely see a neutral impact, the report added.

Earlier this week, union Minister of State for Finance Jayant Sinha said the GST may get passed.

“GST is stuck in the Rajya Sabha, but we are very hopeful that the bankruptcy law will be passed. Even for GST, the numbers (seats) are going to change…so, we are hopeful of GST as well,” he said at an event here organised by the Indian Private Equity and Venture Capital Association.


Raksha Bandhan Celebrations with the soldiers of Indian Army at Pioneer Montessori Inter College




Lucknow : Pioneer Montessori Inter College, Eldeco branch today celebrated Raksha Bandhan with the soldiers of the Indian Army in an event organized by the Veerta and Balidan organization headed by Mr. Soumitra Tripathi. This organization has been conducting Raksha Bandhan Celebrations for the Indian Army soldiers since 5 years. It is one of the most awaited event of the year when the students tie rakhis to the soldiers and show respect, love and gratitude for their courage and valour.

The Chief Guest for the event Mr. Mohsin Raza (Minister of Science and Technology U.P.) addressed the gathering of the soldiers and students. He motivated the students and shared with them the modern innovative facilities which are being provided by the government as per the Digital India Movement. The special guest for the event Brigadier Rahul Gupta and Mr. Pawan Singh,
Chairman of S.R. Group was also present for the event. The manager of Pioneer Montessori Schools, Mr. Brijendra Singh also shared his thoughts on the selfless love and the bond between brother and sister. He said that the rakhis are not only for the protection of the girls but also to protect the brothers and it is like a raksha-sutra for the safety of the brothers.

Inspector Arun Kumar who was present with more than 30 soldiers of SSB under him, felt very grateful and said that it was a matter of great pride and joy for him to be a part of such a celebration and that it is the most awaited day of the year for the soldiers. The students presented various cultural programmes for the soldiers and the girls tied rakhis to the guests and the soldiers. The soldiers also presented songs for the students, which filled the atmosphere with high energy. The SSB soldiers band played to all the tunes.

All the guests and army personnel were presented with mementos and bouquets as a token of appreciation by the Principal of the school Mrs. Sharmila Singh. Shri Raghvendra Rai ji, Shri Manish Singh ji, Ms. Shweta Srivastava ji, along with founder Shri. Saumitra Tripathi ji were present and representing the team of Veerta and Balidan Organisation.

Continue Reading