Gujarat finance minister Saurabh Patel tells CNBC-TV18 that the states are yet to hear from the Centre on the proposed amendments.
Nitin Gadkari hopes to get Cabinet nod for changes to the Motor Vehicle Act soon, which he adds would be based on the US and UK norms. He hopes to move amendments to the Act in this session.
The Narendra Modi government plans to share the Constitutional Amendment Bill draft on GST with state finance ministers by December 12. Immediately after that, post December 12, it will be sent to the Cabinet and once the Cabinet clears it, it will be sent and tabled before the the Parliament.
The main reason why legislation will not happen is our perennial election season â€“ which will continue till February, when Delhi goes to the polls.
Congress leader Kamal Nath says they will not let the government dilute the Land Acquisition Act, as the Act has been finalised after a lot of deliberations.
Except for contentious issues such as the Land Acquisition Act, in which the Congress has pledged to not allow alterations, most bills are fairly uncontroversial and may be make progress in the Winter Session, senior journalist Aditi Phadnis of the Business Standard.
Given that there are 67 Bills pending in both houses - 59 in the Rajya Sabha and 8 in the Lok Sabha coupled with introduction of new Bills, experts believe that the government's path towards getting legislative approval for many Bills is not going to be easy.
Government needs approval during a parliamentary session starting on November 24 to allow overseas investors to hold a 49 percent stake in insurance companies, up from the current 26 percent cap.
GST implementation likely only in 2016, and in phases, UBS analysts Gautam Chhaochharia and Sanjena Dadawala said in a report.
A consensus on this crucial issue will make it easier of the Centre to introduce the GST Bill in the ensuing Winter session of Parliament beginning November 24.
In its latest report, the research firm has said the new government‘s initial policy measures have been encouraging. It views focus on fiscal consolidation, ease of doing business and diesel price deregulation as significant medium-term positives.
A Kotak Institutional Equities report says net profit of the BSE-30 Index grew 6 percent year-on-year, well below expectation of 10.1 percent growth; while EBITDA grew 1.8 percent, 3.8 percent lower than expectation.
Sandeep S Shenoy of Pioneer Investcorp is neutral on SBI, though he says that the downside is limited, the stock could stagnate for sometime.
The Centre in a communication to the state Finance Ministers has suggested that the meeting of the Committee on Dual Control, Threshold and Exemptions be convened at the earliest for "detailed discussion and analysis" of the issues concerning the threshold limit.
In an interview to CNBC-TV18, Sandeep Bhatia, executive director & head- sales, Kotak Institutional Equities, says the tabling of the good and services tax (GST) and the Insurance Bill is high on everyone‘s agenda for now.
Stating that reforms in India are more about co-ordination, Nandan Chakraborty of Axis Capital, said that induction of good ministers in Cabinet will speed up the process.
Asian markets are mixed in morning trade with Japan's Nikkei hitting a new 7-year high.
Today, the state finance ministers met to iron out the differences. They discussed the issue of the threshold limit for GST.
In its latest report, UBS Securities, said that the economic growth recovery underway will likely sustain current valuations, especially as it starts manifesting in both "macro and micro data points".
Zia Mody says she is looking forward to Insurance Bill getting passed in the Winter Session.
Sinha also expressed hope that the government will be able to push the Insurance Bill and the Constitutional amendment bill on Goods and Services Tax (GST) during the Winter session of Parliament beginning November 24.
Finance Minister Arun Jaitley â€œhad spoken for the nationâ€ when he recently called upon the Reserve Bank of India to cut interest rates, Sunil Mittal, chief of India‘s largest telecom company Bharti Airtel, said.
Speaking exclusively to CNBC-TV18, BJD MP Jay Panda says he sees positive movement on a number of important legislations in the Winter Session that are waiting for clearances.
"While the FY15 targets are challenging, recent steps on fuel reforms, coupled with austerity measures, could enable the govt to meet its 4.1 percent fiscal deficit estimate," it said.
Commerce Minister Nirmala Sitharaman said the government is also likely to bring amendments to the Land Acquisition Act in the Winter session of Parliament