Nirmala Sitharaman to move Finance Bill in Lok Sabha today

Finance minister Nirmala Sitharaman is scheduled to move in Lok Sabha on Thursday the Finance Bill, which proposes two key changes to direct taxes as part of rationalising rates covering associations of persons and dividends received by companies.

The proposed law seeks to criminalise the publication of transaction-level information provided by business entities to the customs department as such data could be misused by international entities and hostile countries to the disadvantage of Indian businesses.

The Appropriation Bill will also be introduced in Lok Sabha on Thursday. Rajya Sabha on Monday returned the bill moved by Sitharaman.

A money bill is sent to the upper House for its recommendations after Lok Sabha passes it. It needs to be sent to Lok Sabha within 14 days and it is up to the lower House to either accept or reject Rajya Sabha’s recommendations.

Lok Sabha will continue discussions on the demands for grants for ministries of commerce and industry, ports, shipping and waterways and fisheries, animal husbandry, and dairying.

In Rajya Sabha, Union minister Arjun Munda will introduce a Bill to omit the Bhogta community from the list of Scheduled Castes in Jharkhand and for inclusion of certain communities on the state’s Scheduled Tribes’ list