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The Rajya Sabha on Wednesday approved the Finance Bill, which will enable the government to implement new tax provisions in the annual budget and set up a panel to decide interest rates and monetary policy. The Bill was passed by the Lok Sabha last week.
In his Budget presentation, Finance Minister Arun Jaitley sought to set up a six-member monetary panel with a casting vote for the RBI Governor.
The Insolvency and Bankruptcy Bill, too, was approved by the Rajya Sabha on Wednesday. The current session of the Upper House will end on Thursday.
Lok Sabha adjourned
Meanwhile, the Budget session of the Lok Sabha came to an abrupt end on Wednesday, two days ahead of schedule. Ten Bills, including the Insolvency and Bankruptcy Code and the Anti-Hijacking Bill, were passed during the three-week session, which saw no adjournment due to disruptions.
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