Lok Sabha discusses Finance Bill following opposing viewpoints

The Lok Sabha is set to continue its discussion on the Finance Bill, 2025, this Tuesday. During previous debates, opposition members criticized the government's economic strategies, especially concerning Goods and Services Tax (GST) and structural challenges. Members from the ruling Bharatiya Janata Party (BJP) defended the government's economic achievements. Finance Minister Nirmala Sitharaman introduced the Finance Bill for the 2025-26 fiscal year to Parliament. The Bill includes important Budget proposals that need approval from both houses to become law. Starting April 1, India plans to eliminate the 6% equalisation levy on online advertisement services, often referred to as the Google tax. This change seems to be a response to concerns from U.S. President Donald Trump, who has threatened tariffs against countries with digital taxes on American tech companies. This adjustment is part of 59 amendments to the Finance Bill presented by Sitharaman. Earlier this year, on February 1, the finance minister revealed the Budget for 2025-26 in Parliament. The previous Budget focused on providing significant tax relief to those earning an average monthly income up to Rs one lakh. This initiative aimed to boost household savings and consumption. The overarching objective of the budget is to transition India towards becoming a 'Viksit Bharat' by 2047. The proposals emphasize support for the poor, youth, farmers, and women, introducing various initiatives and reforms in sectors like agriculture, micro, small, and medium enterprises (MSMEs), investments, and rural development.