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Finance Minister Nirmala Sitharaman introduced the Finance Bill 2023
There was a huge uproar in the Lok Sabha on Friday as well. The Finance Bill 2023 was passed by voice vote without discussion with the amendments brought by the Central Government amidst uproar by the opposition members and with this the process of budget for the upcoming financial year was completed in the House. The Lok Sabha met at 12 noon after a one-time adjournment. Presiding Chairman Rajendra Agarwal presented the necessary documents. Meanwhile, members of the opposition parties, including the Congress, came near the seat and started raising slogans. The agitating opposition members were demanding formation of a Joint Parliamentary Committee (JPC) on the Adani issue and were waving placards bearing slogans related to it near the podium.
Finance Minister Sitharaman made a big announcement
Amid the uproar, Finance Minister Nirmala Sitharaman presented the Finance Bill 2023 for discussion and passage in the House. Introducing the bill, Sitharaman said there have been suggestions from some stakeholders that the National Pension System for government employees should be reformed and for this she is proposing to set up a committee. “I propose to set up a committee under the chairmanship of the Finance Secretary to look into the issues related to pension of government employees with fiscal prudence,” she said.
Amendment motion brought by opposition members rejected by voice voteNirmala Sitharaman also told the House that credit card payments for foreign visits were not being captured under the Liberalized Remittance Scheme (LRS) and asked the Reserve Bank of India to look into the matter. After this, the Lok Sabha approved the government amendments related to the Finance Bill and the Finance Bill 2023, as amended, was passed by voice vote without discussion. Along with this, the House rejected the amendment proposals brought by the opposition members on the Finance Bill by voice vote.
The process of budget for the financial year 2023-24 completed in the Lok Sabha Significantly, the House on Thursday through ‘Guillotine’ approved the demands for grants of various ministries and departments and also the related Appropriation Bill by voice vote amid uproar. With the passage of the Finance Bill today, the budget process for the financial year 2023-24 was completed in the Lower House. The budget process began with the presentation of the General Budget 2023-24 by Finance Minister Nirmal Sitharaman in the Lok Sabha on February 1.
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