FM Sitharaman likely to announce 60 changes to Finance Bill 2023 today
2 min read . Updated: 24 Mar 2023, 11:03 AM IST
PremiumFinance Minister Nirmala Sitharaman will move the Finance Bill 2023 today, March 24.
Union Finance Minister Nirmala Sitharaman will move the Finance Bill 2023 today, Friday, to give effect to the financial proposals of the central government for the financial year 2023-24 to be taken into consideration. This comes a day after the demand for grants was passed in Parliament.
According to media reports, the government is likely to move a slew of amendments to the taxation proposals announced in the budget. Sitharaman is expected to move around 60 changes in the Financial Bill 2023.
The Lok Sabha on Thursday passed demands for grants authorizing the expenditure of about ₹45 lakh crore for 2023-24. The proposal was passed by voice vote amid protests by opposition members over their demand for a JPC probe into the Adani issue.
Lok Sabha Speaker Om Birla applied for the Guillotine when the House met at 6 pm following two adjournments earlier.
FM Nirmala Sitharaman moved the Bill to authorize payment and appropriation of certain sums from and out of the Consolidated Fund of India for the services of the financial year 2023-24 for passage in the House amid the din. It was passed amid the din and the House was later adjourned for the day.
Asset managers are concerned about tweaks being proposed to India’s tax rules that could impact the nation’s $150 billion fixed-income mutual fund industry. Instead, the debt fund holdings will be taxed depending on the investors’ income tax rate, which is likely to be higher, according to the report.
The two Houses of Parliament have been witnessing adjournments over the repeated logjam. While the BJP has been demanding an apology from Congress leader Rahul Gandhi over his remarks in the United Kingdom, the opposition has been demanding a Joint Parliamentary Committee probe into the Hindenburg-Adani row.
The second half of the budget session began on March 13 and will commence on April 6. The Finance Minister presented the Union Budget on February 1.
(With ANI inputs)