Finance minister Nirmala Sitharaman to move Finance Bill in Lok Sabha today

Nirmala Sitharaman, the Finance Minister, is set to introduce the Finance Bill in the Lok Sabha on Thursday, which proposes two important adjustments to direct taxes as part of a rate rationalisation plan for associations of persons and dividends received by firms.

The proposed law aims to make it illegal to publish transaction-level information submitted to the customs department by businesses, as such information could be utilised by international entities and hostile countries to the detriment of Indian firms.

On Thursday, the Appropriation Bill will be introduced in the Lok Sabha. On Monday, the Rajya Sabha passed Sitharaman’s bill.

After the Lok Sabha passes a money bill, it is referred to the upper House for recommendations. It needs be delivered to the Lok Sabha within 14 days, and the lower House has the option of accepting or rejecting Rajya Sabha’s recommendations.

The Lok Sabha will continue to debate grant requests for the ministries of trade and industry, ports, shipping and waterways, and fisheries, as well as animal husbandry and dairying.

Union minister Arjun Munda will introduce a Bill in the Rajya Sabha to remove the Bhogta community from Jharkhand’s Scheduled Castes list and to add specific communities to the state’s Scheduled Tribes list.