Assembly Members debated the issue of Dewi Sant in Cardiff Bay on Tuesday.
But even if they were all in favour of making 1 March a Wales-only 'day off', they must seek permission from the UK Government as the issue is not devolved.
But that is likely to be met with a negative response because of continuing concerns by business groups over the loss of working hours.
While enthusiasm on the streets for a St David's Day bank holiday abounds, there are concerns for financial impact it might cause.
A Whitehall source said: "The assembly asked for this Bill last year. It was not in the Queen's Speech and it is extremely unlikely that it will be in this year's Queen's Speech.
"Without the case being made positively by business, there is no prospect of the government legislating for it. We are not going to go to war with the CBI over it."
Two days ago - 17 March - pubs throughout Wales were packed with revellers celebrating St Patrick's Day, and this, according to the Irish, can go some way toward boosting a local economy.
"Visitors will come for St Patrick's Day festivals or other events," said Jim Carroll of the Irish Council General, Wales.
"Events around the world will have an Irish profile and that's something, I think, we realise is an asset."
Currently, workers for Anglesey County Council are the only local authority staff given a day off to celebrate the life of St David.
The patron saint was born circa 542AD at Menevia, which is now called St David's - home of the famous cathedral on the Pembrokeshire coast.
Legend has it that he quite literally rose to prominence during a synod called to decide a case of heresy.
It is there that the ground is reported to have risen up from under his feet to enable him to be heard by the assembled crowd.
Accredited with much of the spread of Christianity in Wales, his teachings drew pilgrims from Ireland and from Europe.
He was buried in the grounds of his own monastery, where the Cathedral of St David now stands on the Pembrokeshire coast.
Although there are conflicting theories, he is believed to died on 1 March in 601AD and the first biography of him was written some 400 years later by a monk called Rhigyfarch.