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Budget 2024: NDA government lines up six bills to present in the upcoming parliament session
- As the government readies to present its first full budget of the current Lok Sabha, it has lined up six bills—that deal with a range of industries, from Aviation to rubber and coffee, among others—to present in the upcoming Budget session.
Six bills, including the Finance Bill 2024—that is expected to propose various tax changes—will be tabled in both the Houses of the Parliament when it reconvenes for the Budget session next week, according to information available from Lok Sabha and Rajya Sabha.
Besides the Finance Bill, the government is also expected to table The Disaster Management (Amendment) Bill, The Boilers Bill, The Bhartiya Vayuyan Vidheyak, The Coffee (Promotion and Development) Bill and The Rubber (Promotion and Development) Bill, when the Parliament reconvenes.
The session is scheduled to continue from 22 July to 12 August.
Also read: Union Budget 2024: 5 key expectations amid evolving market dynamics
The highlight of this session will be presentation of the Union Budget for FY25 along with its discussion and passage, in light of the reduced numbers of the ruling NDA government in the recently concluded general elections.
The way forward
The budget will indicate the NDA government’s macroeconomic and development strategy as well as the policy goals and milestones it sets for the future.
The NDA administration is expected to frame policies meant to accelerate the country's economic growth and stimulate investments and job creation. It remains to be seen whether the government will scale up revenue spending in a big way in the upcoming budget.
Also read: With ₹12 trillion stuck in tax disputes, govt must fix resolution in budget
That apart, the proposed Disaster Management (Amendment) Bill that is set to be introduced, seeks to bring more clarity and convergence in the roles of different organizations working in the field of disaster management, according to the Parliamentary Bulletin released on Thursday.
Meanwhile, the proposed Boilers Bill seeks to repeal and re-enact a pre-independent era law from the point of view of its suitability and relevance in the present circumstances.
Similarly, the Bhartiya Vayuyan Vidheyak also proposes to re-enact the Aircraft Act of 1934 to make it more streamlined and simpler. This bill seeks to improve ease of doing business for airlines and other ancillary sectors, while promoting manufacturing in the sector to achieve self-reliance.
It also seeks to ensure enhanced safety and security oversight, the Bulletin stated.
Renewed focus
That apart, the Coffee (Promotion and Development) Bill and the Rubber (Promotion and Development) Bill, seek to give a fillip to the domestic coffee and rubber industries, and make it easier for farmers to grow and market these cash crops, locally as well as internationally.
Also read: Budget 2024: 48% households face declining income and savings, reveals survey; hopes pinned on income tax relief
The Budget for the union territories of Jammu and Kashmir will also be presented in Parliament during the session.
Several other Bills pending from the previous tenure of the Lok Sabha are expected to be presented only in the winter session of Parliament, given the short duration of the current session.
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Business NewsEconomyBudget 2024: NDA government lines up six bills to present in the upcoming parliament session
First Published:19 Jul 2024, 01:10 PM IST
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