Finance Minister will introduce the Finance Bill 2025 in Lok Sabha today

Finance Minister Nirmala Sitharaman will introduce the Finance Bill 2025 to the Lok Sabha on Monday (March 24) for discussion and approval. The bill attempts to carry out the government’s plans for the financial year 2025-26.

The Finance Bill is a significant part of the Union Budget. It contains proposals of taxes and other financial measures suggested by the government. Its passage is required for these laws to become effective.

Also, Union Minister Pankaj Chaudhary will make a comment on the status of implementing the recommendations included in the First Report of the Standing Committee on Finance on Demands for Grants (2024-2025) for the Ministry of Finance.

The Union Budget 2025 proposes significant tax cuts for salaried individuals, senior citizens and homeowners. The proposed new tax regime would raise the nil tax slab from 7 lakh to 12 lakh.

The Finance Minister also proposed amendments to TDS, ULIP taxation, NPS regulations, and self-occupied housing tax benefits.

Meanwhile, in the Rajya Sabha, the government is expected to keep pushing for approval of the Banking Laws (Amendment) Bill.