Finance Bill 2026 Passed in Lok Sabha; All-Party Meet on Middle East Crisis Today

Finance Bill 2026 Passed in Lok Sabha; All-Party Meet on Middle East Crisis Today

New Delhi, March 25, 2026: The Lok Sabha on Wednesday passed the Finance Bill 2026 by voice vote, marking a key step in completing the Union Budget process for 2026–27. The Bill gives legal effect to changes in income tax rates, customs duties, and excise policies announced earlier in the Budget.

Presenting the government’s position, Finance Minister Nirmala Sitharaman said India’s economic reforms are being driven by “conviction, clarity, and commitment.” She highlighted that India’s debt-to-GDP ratio remains lower than many major economies and is on a declining path.

She also announced relief measures, including exemption of 17 life-saving drugs from basic customs duty and the introduction of automated processes to simplify tax compliance for small taxpayers.

Opposition leaders, including Manish Tewari, Sougata Ray, and T Sumathy, opposed the Bill, alleging that it weakens provisions related to Corporate Social Responsibility (CSR).

Outside Parliament, several opposition MPs staged protests over a reported LPG supply crunch, linking it to disruptions caused by the ongoing Middle East conflict.

Amid rising global tensions, Union Home Minister Amit Shah is set to chair an all-party meeting at 5 pm to brief political leaders on the evolving situation in the Middle East.

The meeting will also be attended by Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar, among others. Foreign Secretary Vikram Misri will present a detailed briefing on the crisis.

Prime Minister Narendra Modi has described the situation as an “unprecedented crisis” with potential long-term economic and security implications for India.

Parliamentary Affairs Minister Kiren Rijiju informed that the Bill will now be taken up by the Rajya Sabha on Friday. Once cleared, the Budget process for the upcoming fiscal year will be complete.

The Rajya Sabha also began discussions on the Central Armed Police Forces (General Administration) Bill, 2026, which proposes a unified administrative structure for forces like the CRPF, BSF, and CISF.

Additionally, an amendment to the Foreign Contribution (Regulation) Act was introduced, aiming to enhance transparency in foreign funding and curb misuse, especially in cases involving forced religious conversions.