Appropriation, Finance Bills back with LS

Appropriation, Finance Bills back with LS

Agency News

New Delhi, July 23 : Rajya Sabha on Tuesday returned to the Lok Sabha the Appropriation Bill and the Finance Bill .

With the Rajya Sabha returning these Bills to the Lok Sabha, the Budget for 2019-20 has received the nod of Parliament.

The Bills were returned to Lok Sabha by a voice vote, after they were presented in the House by Finance Minister Nirmala Sitharaman.

Replying to a debate on the Bills in Upper House, she said the country needs holistic development spread across geographical areas.

"When a district improves, the country improves," she said.

The Finance Minister said the Government has taken steps to improve the non-banking financial companies and would give powers to the RBI to regulate NBFCs.
Justifying the levy on withdrawal of tax from banks, she said that people who deal in large amounts of cash do not declare their tax returner

The Budget proposals were aimed at lending greater transparency . However, the Finance Minister expressed disappointment over Opposition's absence on the critical debate. (UNI)