Finance Bill likely to be passed in Lok Sabha today as stalemate ends
Despite the political deadlock over the coal scam, the key Finance Bill is likely to be passed in Lok Sabha on Tuesday. A temporary truce has been achieved between the government and the opposition to pass the money bills.
The crucial Finance Bill can't be delayed beyond Tuesday as per the rules. Government has to pass all money bills within 75 days of the Budget speech. After being passed in the Lok Sabha, the money bills will go to the Rajya Sabha and then to the President for his assent.
Main Opposition Bharatiya Janata Party will stage a walkout to register its protest leaving the ground open for the government to pass the crucial money bills.
The stalemate ended on Monday after a meeting of floor leaders of various parties convened by Lok Sabha Speaker Meira Kumar. "All financial business will be taken up in Parliament tomorrow," Parliamentary Affairs Minister Kamal Nath told reporters after the meeting.
He dismissed suggestions that Parliament would be adjourned sine die after passage of financial business. "There is no talk of adjourning Parliament sine die (before May 10)," he said. Along with the Finance Bill, some other financial business pending include the Railway Budget and Demand for Grants of ministries.
"It is unfortunate that in the last five days Parliament did not run. I am optimistic and hopeful that the House will function," Nath had said before the Speaker's meeting. Both Houses of Parliament have faced repeated adjournments over the issue of coal scam and JPC draft report.
BJP is demanding the resignation of Prime Minister Manmohan Singh and Law Minister Ashwani Kumar on the issue of CBI's report to the Supreme Court on coal block scam. 15 JPC members of opposition parties have expressed "no confidence" in Chairman P C Chacko and have sought his removal by the Speaker on the 2G draft report, giving a clean chit to the Prime Minister and the Home Minister. (PTI)
Category : Income Tax | Comments : 0 | Hits : 298
Get Free Daily Updates Via e-Mail on Income Tax, Service tax, Excise and Corporate law
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000

Comments