Finance Minister Arun Jaitley on Thursday said the government has not taken any wrong step in economic decision-making till now but stressed that there needs to be greater political consensus among parties for the reforms to go through smoothly.
This would help the economy move beyond the 7-7.5 per cent growth trajectory, he said at the Growth Net Summit.
Ahead of the second part of the Budget Session that starts later this month, Jaitely expressed hope of smooth passage of the Bankruptcy Code and amendments to the Companies Act.
But blaming Congress for going back on the Goods and Services Tax, he said he will further discuss with them the demand for capping the tax rates in the Constitution Amendment Bill.
"On the Constitution Amendment Bill for GST, it is coming down to only one issue. The only opponent, the Congress has some belated wisdom that the rates should have a Constitution cap... I will be discussing it with them. I am all for a reasonable rate but, it has to be decided by the GST Council," he said, adding that he hopes to reach an agreement wit them on the issue.
Jaitley however, underlined the need for a more mature level of thought and discussion. He further said there is a need to discuss to what extent the Upper House is used to block economic decision-making.