Parliament passes Finance Bill, 2021

Parliament has passed the Finance Bill, 2021, with the Rajya Sabha returning it to Lok Sabha, on Wedneday. With this, Parliament has completed all the budgetary exercise. Replying to a discussion on the Finance Bill, 2021, Finance Minister Nirmala Sitharaman said the NDA rule has provided corruption free governance and brought Indian economy out of policy paralysis and fragile five. She alleged that economy was mismanaged under UPA rule and Narendra Modi government had got legacy of high inflation which has been checked. Mrs Sitharaman also said NPA has brought down to around 8 lakh 99 thousand crore rupees by March 2020. Talking about GST, the Minister said GST compensation due to states prior to COVID has all been paid. She informed that 30 thousand crore rupees of GST compensation will be released to states this month.
Bill doesn't envisage any increase in taxation particularly in direct taxes and income taxes. She also elaborated  several measures taken to provide relief to the common man during the COVI-19 pandemic. When the Finance Minister alleged that the West Bengal government has deprived  farmers of benefits under the central government’s PM Kisan Samman Nidhi scheme, the  House witnessed heated arguments between the treasury bench and TMC members.