May 1, 2014 5:42 PM

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FM accuses MP & Gujarat govts of stalling progress on GST

Finance Minister P Chidambaram has accused Madhya Pradesh and Gujarat governments of stalling progress on the Goods and Services Tax, GST. He was reacting to BJP leader Yashwant Sinha's interview to a newspaper in which he had said that the UPA government did not do their homework on the GST. Briefing media in New Delhi this afternoon, Chidambaram said, at a time when consensus was reached on GST, the work on the bill was interrupted by the opposition. Coming down heavily on Sinha, he pointed out that 2000- 2001 and 2002-2003 were the worst years since liberalisation in terms of growth and Prime Minister Atal Bihari Vajpayee was forced to replace the Finance Minister. He said, Finance Ministry has now prepared a new Direct Tax Code and has put it in the public domain. Expressing happiness over India's ranking as the third largest economy in terms of Purchasing Power Parity, Chidambaram hoped that country's economic growth will be around six percent in 2014-15.

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