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Lok Sabha passes Finance Bill 2018

K.R. Srivats New Delhi | Updated on March 14, 2018 Published on March 14, 2018

All outstanding demands for grants in respect of Union Budget for 2018-19 guillotined

The Lok Sabha on Wednesday passed the Finance Bill 2018 after the Finance Minister Arun Jaitley moved as many as 21 amendments. The relevant appropriation Bills moved by Jaitley were also passed through voice vote.

Earlier, as soon as the Lower House reassembled at noon and papers were laid on the table of the House, the Lok Sabha Speaker Sumitra Mahajan guillotined all the outstanding demands for grants in respect of the Union Budget for 2018-19.

It is probably the first time in recent years that the Lok Sabha had not discussed and voted even a single ministry’s demand for grants, say economy watchers. The Lok Sabha also later through a voice vote approved the fourth batch of supplementary demands for grants for 2017-18. The fourth batch involved cash outgo of Rs 85,315 crore (mainly GST compensation of Rs 60,500 crore to the states).

In a span of a little over 30 minutes, the entire crucial third leg of the budgetary process was completed by the lower house amidst a din and protests from the Opposition Members of Parliament, who shouted that democracy be saved.

 

Srivats.kr@thehindu.co.in

Published on March 14, 2018
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