New Delhi [India], March 25 : The Finance Bill 2025 was passed, and the tenure of the Joint Parliamentary committee on One Nation One Election was extended in the Lok Sabha on Tuesday, as the lower house was adjourned for the day and will meet again on Wednesday at 11 am.
As the Finance Bill was passed in the house, Finance Minister Nirmala Sitharaman stated that the government has sought to do several things in the legislation as per the aspirations and expectations of people and the goal of making India a developed country by 2047.
"This Finance Bill, we have attempted to do several things, which as per as the aspiration and the expectation of the people of India and also the goal that the Prime Minister has given us towards the Viksit Bharat by 2047," Sitharaman said.
She said the bill aims to provide tax certainty. "It rationalises a lot of provisions which are towards ease of doing business and also provides unprecedented tax relief," she said.
The minister talked about the tax relief provided to people in the union budget and the government's nudge to increase tax mobilisation from those who have foreign assets.
She replied to the queries raised by members, including those on the GST.
Opposition members participated in the discussion and accused the government of "patchwork solutions" and "flawed GST."
The BJP members lauded the government's economic performance, saying that the country's GDP has more than doubled in the last ten years.
The Boilers Bill, 2024, was also passed in the Lok Sabha. This bill emphasises Ease of Doing Business (EoDB) and seeks to benefit boiler users, including those in the MSME sector.
Commerce and Industry Minister Piyush Goyal moved for its passage, as the bill had earlier been passed in the Rajya Sabha.
The Boilers Act, 1923, was comprehensively amended in 2007 by the Indian Boilers (Amendment) Act, 2007, wherein inspection and certification by independent third-party inspecting authorities was introduced.
However, on further examination of the existing Act, a need was felt for its review and incorporation of the decriminalised provisions in accordance with the Jan Vishwas (Amendment of Provisions) Act, 2023.
Accordingly, the existing Act has been reviewed, with obsolete provisions omitted and certain substantive enabling provisions made for the rules and regulations that were not earlier provided.
Certain new definitions have also been incorporated, and a few existing definitions have been amended to clarify the provisions of the Bill.
For Ease of Doing Business (EoDB), the Bill will benefit boiler users, including those in the MSME sector, as provisions related to the decriminalisation have been incorporated into the bill.
Out of the seven offences, criminal penalties are retained for four major offences that may result in loss of life and property to ensure the safety of boilers and personnel dealing with boilers. Provision has been made for fiscal penalties for other offences.
For all non-criminal offences, 'fine' has been converted into 'penalty' to be levied through executive mechanism instead of courts as existed earlier.The bill seeks to enhance safety, as specific provisions have been made to ensure the safety of persons working inside a boiler and provide that boiler repair is undertaken by qualified and competent persons.
The Lok Sabha also approved the motion to extend the tenure of the JPC on 'One Nation, One Election' upto the first day of the last week of the Monsoon Session, 2025.
Chairman of the Joint Parliamentary Committee (JPC), PP Chaudhary, had moved the motion in the Lok Sabha on Tuesday regarding an extension of time for presenting the report on the "One Nation, One Election" Bills ('Constitution (One Hundred and Twenty-Ninth Amendment) Bill, 2024 and the Union Territories Laws (Amendment) Bill, 2024').
The bills under consideration include the Constitution (One Hundred and Twenty-Ninth Amendment) Bill, 2024, and the Union Territories Laws (Amendment) Bill, 2024.