Finance Minister Arun Jaitley will move on Tuesday that the Finance Bill, a key portion of the Union Budget, be passed in the Lok Sabha. The bill contains tax proposals of the government for the fiscal.
Jaitley is also expected to introduce the four supplementary bills relating to Gods and Service Tax as money bills. Union Cabinet on Monday exclusively took up these bills and approved.
Meanwhile Prime Minister Narendra Modi has asked BJP members to ensure their presence in Parliament amid instances of lack of quorum in both the Houses.
Lok Sabha approved the Appropriation Bill, 2017, after the demands for grants for several ministries were collectively put to vote and passed by the house.
The Bill empowers the Centre to withdraw funds from the consolidated fund to meet its expenditure in 2017-18.
The Centre has budgeted to spend R21.47 lakh crore in the next fiscal year, up from R20.14 lakh crore in 2016-17.
The Railways’ finances were presented Finance Minister Arun Jaitley along with the Union Budget 2017-18. This was the first time since 1924 that the Railway Budget was merged with the Union Budget.
Replying to a debate on demands for grants Minister of State for Finance Arjun Ram Meghwal said the slew of initiatives taken by the Modi government had pushed growth and was ensuring the welfare of all sections of the society.
Pointing to demonetisation, the minister said the decision had won a huge support from the people and this was reflected in the election results in five states earlier this month.
“Despite all hardships faced by the people during demonetisation, the country stood by the Prime Minister on the decision,” Meghwal said.