After the Rajya Sabha forced the government on Wednesday to agree to five amendments to the Finance Bill, the Lok Sabha took them up for consideration, only to reject all of them.
On Thursday afternoon, the Finance Bill was passed by the Parliament thus completing budgetary exercise for 2017-18.
As per the provisions of article 109 of the Constitution, the Rajya Sabha has limited powers with respect to money bills, with the Lok Sabha free to either accept or reject all or any of its recommendations.
So npw, because the Lok Sabha did not accept any of the recommendations, the money bill is deemed to have been passed by both Houses in the form in which it was passed by the lower house
Rajya Sabha on Wednesday returned the bill after it adopted five amendments moved by opposition.
The upper house discussed the bill for over five hours spread across two days with the Congress and other opposition parties taking exception to several provisions of the Finance Bill, stating that the government had sought to amend 40 laws in one go.
Congress member Digvijay Singh moved amendments to three clauses of the Bil and these were adopted after division, to the discomfiture of the treasury benches.
Communist Party of India-Marxist leader Sitaram Yechury also moved two amendments which were also adopted after division.
The BJP-led government does not have a majority in the Rajya Sabha.
The Bill, which was passed by Lok Sabha last week, was moved for passage in the Rajya Sabha on Monday.