Appealing for early passage of the key tax reform, Goods and Services Tax (GST), Mahindra Group chairman Anand Mahindra said on Tuesday that failing to implement the bill will divide the country and thwart it from becoming a common market.
"Without GST we effectively divide our own country and prevent it being a common market. We render ineffective our own secret weapon," Mahindra said on micro-blogging site twitter.
In the monsoon session of Parliament, the Modi government was forced to delay the landmark GST Bil, after facing strong opposition in the Rajya Sabha, where it does not have a majority.
"(The) simplest way I know of understanding the significance of the GS Tax (GST): In a fragile world, India's Brahmastra is its huge domestic market," he added.
"Timely implementation of GST" would increase the gross domestic product (GDP) growth by 1.5 to 2%, according to the new Assocham President Sunil Kanoria.
Some analysts warn that further delay in the passage of key bills could lead to fund outflows from the country.
Doubts over the passage of the key tax bill in the ongoing winter session of Parliament have arisen in the wake of the Bharatiya Janata Party (BJP)-led alliance's defeat in the recently-concluded assembly elections in Bihar.
Recently, Prime Minister Narendra Modi met his predecessor Manmohan Singh and Congress President Sonia Gandhi to garner opposition's support for the passage of GST bill.
"Investor patience is running thin and the government needs to push through at least one big-banner reform in the winter session of Parliament to regain confidence," Taimur Baig and Kaushik Das, economists at Deutsche Bank, had said.
