The Budget Session of Parliament completed the first phase of the budgetary exercise on Wednesday.
During the first phase parliament has approved the Union Budget 2016-17 and several key legislations aimed at the economic agenda of Narendra Modi government.
In the first phase the Budget Session, Parliament passed six crucial legislations. Two key bills such as Real Estate Bill and Aadhaar have been passed in this session of parliament which the government believes would help them improve economy.
On 16 March, the last day of the first phase, Rajya Sabha debated the Union Budget 2016-17 till 11:14 pm. The Appropriation Bill and Aadhaar bill were discussed and returned on the last day of the first stage of the budges session.
Winding up the debate on the Budget in the Rajya Sabha, Minister of State for Finance Jayant Sinha said that the government policies were dedicated to the poor and uplifting the last man in the row.
“Government did a “good job” in managing inflation and the prices of most of the commodities with the exception of pulses has either come down or has remain stable,” said Sinha.
The Minister further said that the decision to keep the fiscal deficit under check at 3.5 per cent of the GDP for 2016-17 was highly appreciated by the Economist magazine and has also evoked good response from the bond market.
The Appropriation Bill and Vote on Account Bills were passed in the upper house after 25 members of the upper house participated in discussion.
Digvijaya Singh of the Congress asked the government to come out with any names of Congress members for possessing black money and said the opposition party does not fear from such threats.
“We do not have any fears. No one fears from such threats of naming us for black money. You give the names of those having black money and stop threatening us,” Digvijaya said.
JD (U) member Pawan Verma said that there should be some sanctity attached to the promises made in the Budget.
“The poor are not satisfied and the youth, farmers and middle class are unhappy with the budget. No section of the society has felt it works for them,” Verma said.
Sukhendu Sekhar Roy (TMC) said the budget talks of “Cooperative Federalism”, but in reality it is “Inoperative Federalism”.
BSP leader Satish Chandra Misra said the NDA government said “Sabka Saath Sabka Vikas”, but in reality it looks like “Corporate Ka Saath Unka Vikas”.
He attacked the budget for not allocating more funds for upgradation of schools.
Earlier in the day Rajya Sabha discussed and returned the Aadhaar Bill and passed the he Sikh Gurdwaras (Amendment) Bill, 2016.
Parliament has been adjourned till 25 April.
Bills passed by Parliament:
1. The Election Laws (Amendment) Bill, 2016
2. The High Court and the Supreme Court Judges (Salaries and Conditions of Service) Amendment Bill, 2015
3. The Carriage by Air (Amendment) Bill, 2015
4. The Bureau of Indian Standards Bill, 2015
5. The National Waterways Bill, 2015
6. The Real Estate (Regulation and Development) Bill, 2016